The Saudi Stock Exchange (Tadawul) announces changing the status of Saudi Enaya Cooperative Insurance Co. as a result of its announcement of reducing its accumulated losses below 50%
Thursday, October 27, 2016 at 9:56 AM
Thu Oct 27, 2016 09:56
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 Saudi Enaya Cooperative Insurance Co. on Thursday 27/10/2016G that its accumulated losses has been reduced below (50%) of its capital, the Saudi Stock Exchange Company (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 Thursday 27/10/2016 , while orders maintenance will start from 11:30.
- Remove the accumulated losses flag mark from the exchange website.