CMA LAW: Resolution No. (223) of 2025 Regarding the Suspension of Trading of Kuwait & Gulf Link Transport Company (KGL) 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. (47) of 2025 held on 30/12/2025 Regarding the Suspension of Trading of Kuwait & Gulf Link Transport Company (KGL) Shares Listed in Boursa Kuwait Securities Exchange.

The Following Was Resolved: 
Article (1)
The shares of Kuwait & Gulf Link Transport Company (KGL) listed in Boursa Kuwait Securities Exchange are hereby suspended from trading as of 31/12/2025, pursuant to the provision of Item No. (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:
……………………..
4. If the Issuer fails to submit any data or documents required by the Authority within its regulatory scope.”

This will continue until the Company submits the documents related to the settlement agreements and related contracts that impact the financial statements ending on 31/12/2024, of Kuwait & Gulf Link Transport Company (KGL). The documents required by the CMA are as follows:

1. Settlement agreements supporting the transfer of a portion of the investment in an associate company – KGL Logistics (K.S.C.C.), as provided in the Explanatory Memo No. (7) of the company's financial statements ending on 31/12/ 2024.

2. Lease contracts for the right-of-use holdings that support the change of balances according to this item, as provided in the Explanatory Memo No. (6) of the company's financial statements ending on 31/12/ 2024.

The aforementioned documents, and any other data requested by the CMA, shall be provided no later than 01/02/2026.

Article (2)
The continuation of listing the shares of Trading of Kuwait & Gulf Link Transport Company (KGL) in Boursa Kuwait Securities Exchange shall be reviewed in the event that the Company fails to meet the CMA’s regulatory requirements stipulated in Article (1) of this Resolution. 

Article (3)
Kuwait & Gulf Link Transport Company (KGL) shall provide the CMA with a weekly report on the updates and measures taken to address the suspension of trading its shares listed in Boursa Kuwait Securities Exchange, as of the issuance date of this Resolution. 

Article (4)
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. 

Emad Ahmed Tifouni
Issued on: 30/12/2025.
 

Copy of the Official Document

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