CMA Announcement in regard to the suspension of trading the shares of Middle East Specialized Cables Co.

Thursday, January 21, 2016 at 3:53 PM

2016-01-21 (1437-04-11) 15:53:48

Middle East Specialized Cables Co. (MESC) failed to commit to announce its interim financial results for the fiscal period ending on 31/12/2015 during the specified period mentioned in the Listing rules.
Based on the Capital Market Law and its implementing regulations as well as the CMA Board resolution regarding listed companies that do not announce their financial statements during the specified periods, CMA announces the suspension of trading the shares of Middle East Specialized Cables Co. on the Saudi Stock Exchange (Tadawul) starting from Sunday 14/04/1437H corresponding to 24/01/2016 until the company announce its interim financial results for the fiscal period ending on 31/12/2015. That is to protect the investors and maintain a regulated market.
CMA notes that this does not absolve the company that is not committed to this rule from the liability of violating the compliance rule imposed on all listed companies to publish their financial statements during the specified period.