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Title: Press Release: Delisting of the Shares of Gulf Petroleum Investment Company (K.S.C.P) from Boursa Kuwait Securities Exchange
Date Publish
06 June 2024
Kuwait, June 6, 2024 – In line with the Capital Markets Authority’s (CMA) continuous efforts to provide protection to investors, and in affirmation to its commitment to enforcing the provisions of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and amendments thereto, and pursuant to Resolution No. (171) of 2023 Regarding the Cancellation of Listing of Gulf Petroleum Investment Company Shares from Boursa Kuwait Securities Exchange issued on 03/12/2023, and CMA Board of Commissioners meeting held on 05/06/2024, stipulating the following:
The delisting of the shares of Gulf Petroleum Investment Company from Boursa Kuwait Securities Exchange is hereby enforced pursuant to Resolution No. (171) of 2023 issued on 03/12/2023 due to the Company’s failure to fulfill the requirements mentioned within the specified period, which ended on 31/03/2024.
The CMA emphasizes on continuing its supervisory role in protecting investors, aiming to create a financial market characterized by fairness, competitiveness, and transparency, while reducing the systemic risks in securities activities, and ensuring compliance with the Laws and Bylaws related to securities activities.
Ends-
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
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