Dubai, May 16th 2012: Dubai Financial Market (DFM) today announced that its UAE listed companies recorded 100% compliance in disclosing their Q1 - 2012 financial results within the deadline of 45 days from the end of the period.
41 out of the 44 UAE public joint stock companies listed on DFM successfully disclosed their quarterly results by the end of March 2012, with the exception of Amlak Finance, ALFIRDOUS and United Kaipara Dairies due to procedural reasons.
Meanwhile, DFM suspended trading on 3 foreign companies that missed the deadline to provide the exchange with the 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: National Industries Group Holding, Mazaya Holding and Almadina for Finance & Investment.
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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 2012
