The Central Bank of Kuwait’s Approval for KIB to Purchase, Sell, or Dispose of 10% of Its Issued Shares.
Reference to Capital Market Authority’s regulations concerning disclosure of substantial information and the mechanism for disclosing the same, and reference also to Article 4-1-1 of Chapter Four (Book 10) of CMA’s executive bylaws issued on 9 November 2015.
Listed Company: Kuwait International Bank
Substantial Information: The Central Bank of Kuwait’s approval was given on 12.4.2017 extending the approval granted to our bank to purchase, sell or dispose of 10% of its issued shares for a period of six months expiring on 28.10.2017.
Impact of the Substantial Information on the Company’s Financial Position: Our bank will continue to use its treasury shares for purposes agreeable with CBK’s instructions.