The Saudi Stock Exchange (Tadawul) announces changing the status of Malath Cooperative Insurance Co. as a result of its announcement of reducing its accumulated losses below 50%
Tuesday, April 11, 2017 at 9:48 AM
Tue Apr 11, 2017 09:48
Based on the instructions and procedures related to listed companies with accumulated losses reaching 50% or more of its capital, issued by the board of the Capital Market Authority (CMA) pursuant to its resolution number 4-48-2013 dated 15/01/1435H corresponding to 18/11/2013G, and as a result to the announcement of Malath Cooperative Insurance Co. on Tuesday 11/04/2017G that its accumulated losses has been reduced below (50%) of its capital, the Saudi Stock Exchange (Tadawul) under the aforementioned instructions and procedures will do the following:
Suspend trading of the company’s shares for two hours from session opening of Tuesday 11/4/2017G , while orders maintenance will start from 11:30. Remove the accumulated losses flag mark from the exchange website.