Source: Abu Dhabi – WAM
The Cabinet approved the decisions of the Securities and Commodities Authority to reduce the daily maximum limit for shares from 10% to 5%.
The council also approved the development of a mechanism to buy back shares of listed companies, in order to facilitate controls and procedures regulating the repurchase, in addition to ensuring that short sales are not active in the financial markets in the country.
The circular of the authority was approved for public joint-stock companies by holding general assembly meetings remotely through the electronic voting mechanism.
The new decisions of the commission follow the announcement of a set of decisions adopted by the Council of Ministers to support the various sectors in the state, and to ensure the conduct of its business and transactions, while preserving the health and safety of society.