CMA LAW: Resolution No. (158) of 2024 Regarding the Suspension of Trading of Jiyad Holding Company's Shares Listed in Boursa Kuwait Securities Exchange

Having Perused: 
- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and amendments thereto; and 
- CMA Board of Commissioners Resolution passed in its meeting No. (38) of 2024 held on 04/12/2024 Regarding the Suspension of Trading of Jiyad Holding Company's Shares Listed in Boursa Kuwait Securities Exchange.

The Following Was Resolved: 
Article (1)
The shares of Jiyad Holding listed in Boursa Kuwait Securities Exchange are hereby suspended from trading according to Items No. (1), (3), and (4) of Article (1-20) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and amendments thereto, which stipulate the following:

“The Authority may temporarily suspend trading in the Exchange, and suspend the trading of any Security listed in the Exchange in any of the following cases:
1. Violating the Issuer for any of the obligations imposed on it under the laws and regulations applied by the Authority and the Exchange
….
3. Achieve investor protection in the markets.
4. If the Issuer fails to submit any data or documents required by the Authority within its regulatory scope.”

This will continue until the ends of the CMA’s regulatory procedures represented by reviewing the administrative condition and financial position of the Company.

Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette. 

Othman Al-Issa
Acting Managing Director
Issued on: 04/12/2024.

Copy of the Official Document

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