Abu Dhabi Securities Exchange (ADX) today called on all its listed companies to, where possible, bring forward the announcement of their financial results for the third quarter of 2008 and explain their business situation with regard to the recent ‘credit crunch’.
“When markets are volatile, rumours can start to spread,” said Rashed Al Baloushi, Deputy Chief Executive and Director of Operations at ADX. “ADX is committed to the highest standards of transparency. We therefore want to do everything possible to ensure investors act on fact not fiction.”
The actual deadline for listed companies to submit their Q3 financial results is November 15 2008, however in its letter, ADX has encouraged them to submit their financial statements as soon as possible.
