“Abu Dhabi Securities” requires companies to disclose their quarterly data on time

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Abu Dhabi Securities Exchange issued a circular, today, Wednesday, requesting companies listed in the market to commit to disclosing their audited financial statements for the first quarter of this year within a period of 45 days from the date of the end of the quarter concerned, stressing that the quarterly financial statements should be attached to the report of the Board of Directors , According to established standards.

The market’s request comes from public shareholding companies listed in this regard, in order to establish the principle of disclosure and transparency in announcing the financial statements on time, given the importance and interest of investors, and all dealers in securities and based on the regulations in force by the market.

Article / 4-2 / ​​as amended from the regulations pertaining to the market and the decisions of the market’s board of directors in this regard, stipulates that companies provide the market with the quarterly financial statements reviewed by their external auditor within a period of a maximum of 45 days from the date of the end of the quarter and that they are attached to the report of the board of directors. Or a management discussion report.

The listed company must adhere to preparing its approved financial statements in accordance with international reporting standards / IFRs /, and the disclosure process must take place, either before the beginning of the session, or after it with the necessity of all companies following the guidelines for preparing the report of the Board of Directors, or Report of the discussions of its executive departments.

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