By: Ahmad Awad
Kuwait-Mubasher: Future Communications Global’s ordinary general meeting agreed on a voluntary withdrawal from the Kuwait Stock Exchange (KSE).
Shareholders approved distributing cash dividends at 10% of capital or 10 fils per share for the fiscal year 2015.
“The delisting move is ascribed to weak trading activity on the company’s shares which are changing hands at only 5% of their total,” Chairman Faisal Al Hamd said.
The market price does not reflect the stock’s fair value as the company is delivering a good operating performance, the chairman added.
On KSE, the telecom investor’s stock settled at 100 fils half an hour before closing Wednesday’s session, after about 329,400 shares were traded with a value of KWD 33,000.
