The Saudi Stock Exchange explained that the suspension of trading on these shares came due to the lack of commitment to announce the financial statements (the annual financial results ending in 31-12-2018) during the period The statute specified in the rules for offering securities and ongoing obligations issued by the Board of the Capital Market Authority pursuant to Resolution No. (3-12-2017) dated (4/4/1439 AH) corresponding to (12/27/2017).
Based on the market powers stipulated in the listing rules approved by the decision of the Capital Market Authority Board No. (3-123-2017) and the procedures for suspending the trading of approved listed securities By Resolution No. (2019-10-1), the Saudi Stock Exchange Company announced the following measures to be taken:
1- To suspend trading on the shares of these companies in the market for one trading session, which corresponds to Monday 25/07/1440 AH corresponding to 04/01/9201 AD.
> <- dir = "rtl" style = "text-align: justify;"> 2 - Stock trading will resume for a period of twenty trading sessions starting from Tuesday 26/07/1440 AH corresponding to 04/02/9201 AD following the session in which trading was suspended, The companies must publish the financial statements before the end of Monday, 08/24/1440 AH corresponding to 04/29 1920.3 - In the event that companies did not announce the financial statements within the period referred to in paragraph (2), the trading of shares will be suspended from Tuesday 25 / 08/1440 AH corresponding to 04/30/21920 until the financial statements are announced.
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The Saudi Stock Exchange explains the reasons for suspending trading
