16/04/2026
Share:
16/04/2026
Share:
KUWAIT CITY, April 16: The Capital Markets Authority (CMA), in line with its ongoing commitment to protect investors and enforce Law No. 7/2010 along with its executive regulations, issued Resolution No. 223/2025 on Dec 30, 2025. In a press statement, CMA disclosed that this resolution, which pertains to the regulation of securities and oversight of listed companies, stipulates that trading in the shares of Kuwait and Gulf Link Transport Company (K.S.C.C.) on Boursa Kuwait was suspended effective Dec 31, 2025.
This measure, as outlined in Article One, was implemented pursuant to Clause Four of Article 1-20 of Book 12 of the Executive Regulations of Law No. 7/2010. Under this provision, CMA is authorized to suspend trading in a security when the issuing entity fails to provide the required supervisory information.
The suspension remains in effect until the company submits the necessary documentation related to settlement contracts and agreements impacting its financial statements for the fiscal year ending Dec 31, 2024 as follows:
1. Settlement agreements confirming the transfer of investment stakes in Kuwait and Gulf Link Transport Company (K.S.C.C.) as referenced in Note Seven of the 2024 financial statements.
2. Lease agreements for right-of-use assets substantiating balance movements, as detailed in Note Six of the same financial statements. CMA set a deadline of Feb 1, 2026 for the submission of these documents.
Article Two states that failure to comply within the deadline will lead to a review of the listing status of the company.
Article Three obligates the company to submit weekly progress reports, detailing the actions taken to address the causes of the trading suspension.
Article Four stipulates that the relevant authorities must implement the decision after its publication in the official gazette, ‘Kuwait Al-Youm’. On April 15, 2026, the Board of Commissioners issued Resolution No. 15/2026, formally delisting the company in accordance with clauses Seven and Eight of Article 2-4-1 of Book 12 of the Executive Regulations. The delisting is due to the failure of the company to comply with the requirements set out in Resolution No. 223/2025. By not submitting the specified settlement and lease documentation, the company hindered the review and audit of its 2024 financial statements.
Despite multiple notices issued during the review period stipulated in Article Two, the company did not submit the required weekly reports or supporting documents. In addition, the external auditor’s annual reports continued to highlight unresolved issues that were identified in previous financial statements. As a consequence, the company is now required to comply with Article 2-4-2, which mandates its Board of Directors to convene a general assembly within three months to discuss the delisting and lay down corrective measures for the future. Failure to meet this obligation may result in further regulatory action. The minutes of the general assembly must be submitted to the CMA and Boursa Kuwait within two weeks of the meeting.
Furthermore, as per Article 2-4-3, the company must be included in the unlisted securities system to allow trading within five working days from the date of delisting. CMA reaffirmed its commitment to maintain a transparent and competitive financial market, as well as protect investors through the strict enforcement of regulatory compliance.
