The Capital Markets Authority (CMA) has revoked Cap Corp Investment Company's (OTC code #345) Securities Activities License following its merger with Safat Investment Company. The CMA issued Resolution No. (134) of 2023, which delists Cap Corp Investment Company from the Licensed Persons Register at the Capital Markets Authority, effective from August 20, 2023. The CMA has called on the relevant authorities to implement this decision within their jurisdiction, and it will come into force on October 1, 2023.
This resolution was issued based on the Extraordinary General Assembly of Safat Investment Company held on May 18, 2023, which approved the merger through the dissolution of CapCorp Investment Company and the transfer of its liabilities to Al-Safat Investment Company for the purpose of merger. It also includes the subscription of existing shareholders of CapCorp Investment Company in the capital increase shares of Al-Safat Investment Company. The notation of this merger was made at the Commercial Registry Department at the Ministry of Commerce and Industry on May 31, 2023.
Additionally, based on the decision of the Extraordinary General Assembly of CapCorp Investment Company held on May 11, 2023, approving the merger through the dissolution of Cap Corp Investment and the transfer of its liabilities to Safat Investment Company for the purpose of merger. This notation was made at the Commercial Register Department at the Ministry of Commerce and Industry on August 20, 2023.
 The Capital Markets Authority has also approved the implementation of the merger process between Al-Safat Investment Company and Cap Corp Investment Company, which was issued on August 29, 2023. This decision is in accordance with Resolution No. (24) of 2023, which amended the powers of the final approval of the work procedures of the supervision sector and was issued on February 12, 2023.