Thursday, Feb 16, 2017
Dubai Financial Market (DFM) said its UAE listed companies have showed a 100 per cent compliance to disclose their preliminary results for the financial year 2016 within the deadline of 45 days from the end of the year in line with the regulations of the Securities and Commodities Authority (SCA).
As much as 48 UAE companies listed on the DFM have disclosed their preliminary results. Out of the 13 non-UAE companies dually listed on the exchange, six companies have disclosed their results within the deadline.
It is worth noting that the DFM has implemented an extensive campaign over the past few months to make listed companies aware of the implementation of the regulation on disclosing preliminary annual results within the 45 days deadline, which was introduced last year for the first time. The exchange has dispatched notices to listed companies as well as connecting with disclosure and compliance teams to emphasise on the importance of adherence to the timeframe so that investors receive the results at the earliest as part of DFM’s commitment to further enhance levels of disclosure and transparency.
The DFM employs advanced mechanisms enabling listed companies to swiftly disseminate their results and any other disclosures through the electronic disclosure system (Efsah).
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