Today, the country's non-oil sector accounts for about 74 per cent of the total GDP
business3 days ago
Companies listed on the Abu Dhabi Securities Exchange (ADX) are now required to disclose the agenda and schedule of their board meetings — where matters affecting the firm's stock price will be discussed — at least two business days prior to the specified meeting date, it was announced on Friday.
In a circular, ADX said that decisions taken during these meetings must be disclosed immediately after the meeting concludes, excluding the day of the meeting itself.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
“For example, if a company's board of directors decides to hold a meeting on Friday, September 27, 2024, to discuss matters affecting the company's stock price, the company must disclose the agenda and meeting schedule no later than Tuesday, September 24, 2024. Failure to disclose by Tuesday would be considered a violation of market disclosure regulation,” the circular said.
ADX requested the listed companies to provide it with the financial report for the third quarter of this year in both Arabic and English using the disclosure electronic services (E-Services).
The authority emphasised on the importance of disclosure and transparency regarding financial information of listed companies, for the benefit of all investors and securities dealers.
According to the circular, the the following reports are required to be submitted to ADX:
The circular noted that if the financial data is not disclosed by 9am, the market will suspend the company's trading from 9am to 9.30am to ensure the safety of the trading session and the completion of internal market procedures. If the financial data is received during this time, the company will be allowed to resume trading after 9.30am.
ALSO READ:
Today, the country's non-oil sector accounts for about 74 per cent of the total GDP
business3 days ago
The yellow metal has lost Dh2.5 since Monday
business3 days ago
Investors are advised to deal with only SEBI registered mutual funds
business3 days ago
The first centre will bring together academic researchers and practitioners from the private sector to develop and share best practices in responsible AI
business3 days ago
The UAE has already signed CEPA with major trading partners such as India, Israel, Chile, Colombia, Turkey, Indonesia, Georgia and Cambodia
business3 days ago
New developments hold key to the future of work, expert says
business4 days ago
A year-on-year (YoY) increase of 20.2 per cent, or Dh135 billion, was recorded
business4 days ago
Course offers training in English language, interviewing skills, resume writing, and job search tips
business4 days ago