The Board of Commissioners of the Capital Markets Authority issued its resolution at  meeting No. (30) of 2022, which was held yesterday: Shares of Ajwan Gulf Real Estate Company (K.S.C.) Public, shall be delisted from Kuwait Stock Exchange (the main market) as of August 17, 2022 , pursuant to item (8) of Article (2-4-1) of  Module Twelve (Listing Rules) of the Executive Regulations of Law No. (7) of 2010 regarding the Establishment of the Capital the Markets Authority and Regulating Securities Activities, and their amendments, which stipulates that: The Authority may cancel the listing of the Shares of a shareholding company listed in the Exchange in any of the following cases: Shares of a joint stock company listed on the Stock Exchange in any of the following cases: If the Authority deems that canceling the listing is necessary for protecting investors or regulating the market. Therefore, due to the Authority’s doubts regarding Ajwan Gulf Real Estate Company’s business continuity, in addition to the several legal disputes the company is involved in and the large number of observations that have been monitored, rendering its listing on Boursa Kuwait inviable. 

Moreover, CMA indicated that pursuant to Article (2-4-3) of Module Twelve (Listing Rules) of Law No. (7) of 2010 Executive Bylaws regarding the Establishment of the Capital the Markets Authority and Regulating Securities Activities, and their amendments stipulating that: “Kuwaiti shareholding  companies whose  Shares were  delisted  pursuant  to  a   resolution  shall  be  registered  in  the  (Unlisted  Securities  System)  through  the continuous  trading  within  fifteen Business  Days  from  the  effective  date  of  the  cancellation resolution”. Therefore, the Company has to follow the instructions reflected in CMA’s Circular (4) of 2022, issued on 21 April 2022. 
It’s worth mentioning that the Company's authorized capital is KWD 15 million, and its paid-up capital is KWD 11,230,402. The number of its issued shares stood at 112,304,020 shares, at a nominal value of 100 fils per share. The number of its outstanding shares is 112,303,978 shares, and its last trading price on Boursa Kuwait was 16.8 fils on 17 August 2022.