Dubai Financial Market Records 98% Compliance In Q1-2010 Result Disclosures Of UAE Companies

Dubai Financial Market (DFM) announced today that its UAE listed companies have achieved a solid 98% compliance to disclose their quarterly results for the first quarter of 2010 ending on March 31st, within the 45 days deadline from the stated period end. The total number of UAE public joint stock companies listed at DFM which disclosed their annual results stood at 40 companies out of 41 companies, with the exception of Amlak Finance and Tamweel, in addition to Al Firdous Holding with its financial year ending on March 31st .

DFM suspended trading on JEEMA Mineral Water due to not disclosing its results.

Furthermore, DFM suspended trading on 5 foreign listings that missed the deadline including: BAYAN Investment, GOLBAL, GRAND, IIG and KFIC. Foreign listings on DFM recorded a 77% compliance, as 17 out of 22 companies disclosed their results within the legal timeframe. DFM also submitted a detailed report to the UAE Securities and Commodities Authority (SCA) which covers the disclosure dates and its observations on the disclosures.