Dubai, April 1st 2014: Dubai Financial Market (DFM) today announced that its UAE listed companies have showed a 96.7% compliance to disclose their annual results 2013 within the deadline of 3 month from the end of the financial year. 42 out of the 43 UAE public joint stock companies listed on DFM successfully disclosed their annual results by the end of March 2014, with the exception of Amlak Finance due to procedural reasons.
Meanwhile, DFM suspended trading on 5 listed companies that missed the deadline to provide the exchange with full and audited financial statements as per the UAE Securities and Commodities Authority (SCA) and DFM requirements.
DFM also submitted a detailed report to (SCA) including the disclosure dates and its observations on the disclosures.
The suspended companies are; United Kaipara Dairies - UNIKAI, Al Madina for Finance and Investment, Hits Telecom Holding, Al Salam Group Holding and National Industries Group.
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About Dubai Financial Market:
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
For further information, please contact:
Atef Fathy
Vice President- Media & Public Relations
Dubai Financial Market
Tel: 04-3055334
Email: afathy@dfm.ae
© Press Release 2014
