Boursa Kuwait has announced the cancellation of the listings for the shares of Al Massaleh Real Estate Company and Al Taameer Real Estate Investment Company, effective today, Sunday, August 4, 2024. This decision was made by the Board of Commissioners of the Capital Markets Authority.
The Capital Markets Authority Commissioners have decided to cancel the listing of Al Massaleh Real Estate Company due to its failure to comply with the requirements outlined in Resolution No. (173) of 2023, issued on December 10, 2023, by the deadline of March 31, 2024.
Additionally, the Capital Markets Authority clarified that the cancellation of Al Taameer Real Estate Investment Company's listing from the Kuwait Stock Exchange was also due to its inability to meet the requirements specified in Resolution No. (179) of 2023, issued on December 27, 2023, within the same deadline of March 31, 2024.
This action is in accordance with Clause No. 7 and Clause No. 8 of Article (2-4-1) of Book Twelve - Listing Rules, as outlined in the Executive Regulations of Law No. (7) of 2010, which pertains to the establishment of the Capital Markets Authority and the regulation of securities activities, along with any subsequent amendments.