The Abu Dhabi Securities Market announced the amendment of the times for stopping trading in shares of listed companies in order to achieve what is required by the interest of the work of the market, listed companies, investors and all dealers in securities, and to activate the principles of transparency and disclosure.
The market said, in a circular today, that if the date of the Board of Directors meeting or the date of the General Assembly meeting coincides with trading hours, the suspension will be from the beginning of the meeting time until the results and decisions are received and disclosed on the market’s website before 9 am in accordance with the approved laws and procedures.
The market recommended that listed companies hold meetings outside the trading session hours to avoid suspending the company from trading, indicating that the decision will be implemented as of the beginning of this week.
12 cases
It is noteworthy that there are 12 cases in which the Abu Dhabi Securities Exchange suspends trading in the shares of a listed local company, the most prominent of which is if the date of the general assembly or the company’s board of directors meeting coincides with the trading hours, then trading is suspended as of the start of the meeting time and until the market is provided with the decisions taken in the meeting. the meeting.
It also includes cases in which the stock is suspended, based on a decision from the Authority in accordance with applicable legislation, in cases of unjustified rise or fall in the stock for more than three consecutive sessions, failure to disclose financial statements to the market on the dates specified for that, and if the company takes a decision regarding amending Its capital, and if the company submits a justified request accepted by the market to stop trading in its securities. (wham)