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Kuwait's CMA decides to delay assembly meetings

Kuwait's CMA decides to delay assembly meetings
The decision follows the easing of the full curfew

Mubasher: Kuwait’s Capital Markets Authority (CMA) has advised all companies to postpone the previously announced final date of their respective ordinary general meetings (OGMs) until further notice following the lifting of the full curfew.

The decision involves companies listed on Boursa Kuwait as well as closed joint-stock companies licensed to carry out securities activities whose fiscal years ended on 31 December 2019 and have not held their general assembly meeting yet.    

Moreover, the mandate is pursuant to the Kuwaiti government’s resolution issued last week on imposing a total curfew starting from 10 May through to 30 May amidst the coronavirus (COVID-19) pandemic.

The government excluded people working in essential and vital sectors from the curfew and allowed necessary public sectors only to operate whereas suspended private sector activities, unless exempt. 

It is noteworthy that the disclosure period for the companies’ financial results of 2019 has ended in March.