Wednesday, Dec 15, 2010
BEIRUT (Zawya Dow Jones)--Shareholders of Gulf Rocks Co., or GRC, a Kuwaiti manufacturer of aggregate, paints, and insulation materials, have approved delisting the company from the local bourse, mainly due to weak trading in its shares, Kuwait-based Al Watan daily reports Wednesday, citing an executive.
GRC isn't currently suffering from any troubles and hasn't posted any loss since it was established, while its debt represents just 10% to 15% of its shareholders' equity, Shaker Al Sanea, the company's vice chairman, said according to the paper.
Local law allows the shareholders of a listed company to trade in the company's shares for six months after their delisting decision, the daily cites Sanea as saying.
Newspaper website: http://alwatan.kuwait.tt/ArticleDetails.aspx?Id=75183
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
15-12-10 0443GMT
