Title: Press Release: Delisting of the Shares of Sultan Center Food Company from Boursa Kuwait Securities Exchange

Kuwait, May 15, 2025 – In line with the Capital Markets Authority’s (CMA) continuous efforts to provide protection to investors, and in affirmation to its commitment to enforcing the provisions of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments, , the CMA Board of Commissioners, in its meeting   No. (13) of 2025 held on 14/05/2025, issued the following resolution:

“The  shares of Sultan Center Food Company are hereby delisted from Boursa Kuwait Securities Exchange pursuant to Item (7) and Item (8) of Article (2-4-1) 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 their amendments, due to the Company’s failure to meet the requirements set out in Resolution No. (127) of 2024 issued on 18/09/2024. In particular, the Company failed to exercise the care of a prudent person in addressing the auditor’s reservations concerning the item of “Investment in an associate company”, thereby failing to ensure that the balances in the financial statements for the financial year ending on 31/12/2024 are recorded fairly and accurately.”

The CMA emphasizes on continuing its supervisory role in protecting investors, fostering a capital market rooted in fairness, competitiveness, and transparency, mitigating foreseeable systemic risks in securities activities, and ensuring compliance with the applicable laws and regulations.

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Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.

Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.

For further information, please contact:
Public Relations & Media Office
Tel: 1888898
Email: pr-media@cma.gov.kw