DFM achieves 100% compliance in annual results disclosure of UAE companies

Dubai, April 7, 2010 (WAM)- Dubai Financial Market (DFM) announced yesterday that its UAE listed companies has shown a 100% compliance to disclose their annual results within the deadline of 3 months from the end of the financial year. By the end of March 2010, the total number of UAE public joint stock companies listed at DFM that disclosed their annual results stood at 44 companies out of 45 companies "with the exception of Amlak Finance.
Meanwhile, DFM suspended trading on nine Kuwaiti companies that missed the deadline to provide the exchange with full and audited financial statements as per the UAE Securities and commodities Authority (SCA) and DFM requirements. DFM also submitted a detailed report to (SCA) including the disclosure dates and its observations on the disclosures.
The suspended Kuwaiti companies are: Grand Real Estate, HITS TELECOM, KFIC, Gulf Petroleum, International Investment Group, BAYAN, National Industries, EKTTITAB and ALMADINA Investment