The Capital Market Authority Announcement in regard to continuing the suspension of trading the shares of Abdullah A. M. Al-Khodari Sons Company’s Shares
Wednesday, May 29, 2019 at 4:33 PM
Wed May 29, 2019 16:33
In reference to the Saudi Stock Exchange Company ("Tadawul") announcement dated 25/08/1440H, corresponding to 30/04/2019G regarding the trade suspension of Abdullah A. M. Al-Khodari Sons Company’s ("Company") shares due to the Company's failure to announce its financial statements (annual financial statement ending 31/12/2018) during the specified period stated in the Rules on the Offer of Securities and Continuing Obligations starting from Monday 25/08/1440H, corresponding to 30/04/2019G until the Company announces its financial statements, and to the Company's announcement on the Saudi Stock Exchange Company (“Tadawul”) website on 24/09/1440H, corresponding to 29/05/2019G, regarding the approval of the Company's request of filing for financial restructuring procedure under the Bankruptcy Law.
And based on the Capital Market Law issued by Royal Decree number (M/30) dated 2/6/1424H, and sub-clause (4) of the clause (a) of the Article (36) of the Listing Rules, the CMA has issued its decision to continue suspending the trading of the shares of Abdullah A. M. Al-Khodari Sons Company on the Saudi Stock Exchange until the issuance of the Court's decision on the company's application for the commencing a financial restructuring procedure.
The company shall be subject to the procedures referred to in the CMA's announcement dated 28/07/1440H, corresponding to 04/04/2019G regarding the procedures relating to the issuer whose securities are listed on the Exchange when applying for court for commencing a financial restructuring procedure in accordance with the Bankruptcy Law.