CMA Announcement in Regard to Continuing the Suspension of trading the shares of Alujain Corp

Tuesday, September 19, 2017 at 3:13 PM

Tue Sep 19, 2017 15:13

Referring to CMA's announcement on 28/11/1438H corresponding to 20/08/2017 regarding the suspension of trading the shares of Alujain Corp, and since Alujain Corp has published its preliminary financial results for the period ending on 30/06/2017 on Tadawul’s website Today Tuesday 28/12/1438H corresponding to 19/09/2017. The company’s auditors’ report contained a disclaimer of opinion on the preliminary financial results for the period ending on 30/06/2017.
Based on the Capital Market Law issued by Royal Decree Number (M/30) Dated 2/6/1424H, the CMA is allowed to cancel any securities in the market or suspend its issuance or trading if necessary, and based on the Listing Rules issued by the Board’s decision number (3-11-2004) and dated 20/8/1425H corresponding to 4/10/2004 which states that CMA can suspend or cancel the securities listing if it considered that the issuer operations’ level or its assets do not justify the continuous trading of its securities in the market, in addition to the auditors’ disclaimer of opinion;  the CMA Board has issued its decision to continue the suspension of trading the shares of Alujain Corp. on the Saudi Stock Exchange (Tadawul) until the company adjusts its financial position.