Dubai Financial Market (DFM) announced that its UAE listed companies recorded 100 per cent compliance in disclosing their third quarter of 2012 financial results within the deadline of 45 days from the end of the period.
43 out of the 44 UAE public joint stock companies listed on DFM successfully disclosed their quarterly results, with the exception of Amlak Finance 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, Al Mazaya Holding and International Financial Advisors — IFA.
Dubai Financial Market 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.
From Gulf Today