Saturday, Apr 21, 2012
BEIRUT (Zawya Dow Jones)--Kuwait's Investment Dar Co. (TID.KW), which owns a stake in U.K.-based luxury car maker Aston Martin, Saturday said that the country's Capital Markets Authority has overturned its earlier decision that forced the company to de-list its shares.
Investment Dar said the CMA's complaints and grievances committee accepted its complaint about the previous decision of the regulator's board of commissioners requiring it to de-list from the Kuwaiti stock exchange, the company said in an emailed statement.
Investment Dar is prepared to fulfill all requirement needed for the resumption of trading in its shares, Abdullah Al Humaidhi, the company's chief executive, said in the statement.
Investment Dar was one of nine companies that the board of commissioners de-listed in February. Following the de-listing, the company said it will communicate with the CMA regarding this decision in order "to clear up the confusion surrounding the reasons for the issuance of the delisting decision while preserving its rights to take the necessary legal actions to protect its rights."
The company's shares were already suspended from trading prior to the February de-listing decision, due to its failure to submit financial results. Investment Dar has been restructuring its debt after suffering financial difficulties during the global financial crisis.
Investment Dar and Adeem Investment Co., another Kuwaiti company, led a consortium that bought Aston Martin from Ford Motor Co. (F) for $848 million in 2007.
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
21-04-12 1242GMT
