The Saudi Stock Exchange (Tadawul) announces that the accumulated losses Nama Chemicals Co. has reached 75% or more and less than 100% of its capital
Wednesday, December 28, 2016 at 9:54 AM
Wed Dec 28, 2016 09:54
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 15/1/1435H corresponding to 18/11/2013G, and as a result to the announcement of Nama Chemicals Co. dated 28/12/2016 that its accumulated losses reached (76.1%) of its capital, and since this percentage of accumulated losses represents 75% or more and less than 100% of its capital, the Saudi Stock Exchange (Tadawul) under the aforementioned instructions and procedures will do the following:
1. Suspend trading of the company’s shares for one session following the announcement.
2. Put an orange flag next to the company’s name on Tadawul website.
3. Settlement will occur within two business days (T+2).