The Capital Market Authority Announcement in regard to continuing the suspension of trading the shares of Saudi Indian Company for Cooperative Insurance’s Shares
Tuesday, January 01, 2019 at 3:51 PM
Tue Jan 1, 2019 15:51
In reference to the Saudi Stock Exchange Company ("Tadawul") announcement regarding the trade suspension of the Saudi Indian Company for Cooperative Insurance ("Company") shares due to the Company's failure to announce its financial statements (Q3 2018 financial results) during the specified period stated in the Rules on the Offer of Securities and Continuing Obligations starting from Monday 4/3/1440H, corresponding to 12/11/2018G until the Company announces its financial statements, and to the Company's announcement on Tadawul website on 28/03/1440H, corresponding to 6/12/2018G regarding the Company's request of filing for financial reorganization 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 Board has issued its resolution to continue suspending the trading of the shares of Saudi Indian Company for Cooperative Insurance on the Saudi Stock Exchange until the CMA board issue a resolution in accordance with the Commercial Court’s decision with regard to the Company’s request of filing for financial reorganization procedure.