Abu Dhabi Securities Exchange Announces Ban on Insider Transactions

ABU DHABI, 15th June, 2020 (WAM) — The Abu Dhabi Securities Exchange announced that the period for banning transactions by insiders of listed companies will start from tomorrow, June 16th.

The market stated, in a circular issued today, that the ban on transactions will continue until the listed companies fully disclose their financial statements for the second quarter of the current year 2023.

The market stated that this decision will be circulated to all listed companies and all departments, authorized brokers and investors in the market.

And according to Article No. 14 of the system for trading, clearing, settlement, transfer of ownership and safekeeping of securities of the decision of the Board of Directors of the Securities and Commodities Authority for the year 2001, the chairman and members of the board of directors of the company whose securities are listed in the market and its general manager or any of the employees familiar with the material information of the company are prohibited from dealing By himself or for his own account by others or in any other capacity for the account of others in the securities of the same company or the parent, subsidiary, sister or allied company of that company, if any of those companies are listed in the market, 15 days before the end of the quarterly or semi-annual financial period or annual until the financial statements are disclosed.