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Dubai Financial Market (DFM) today announced that its UAE listed companies have showed a 96% compliance to disclose their preliminary results for the financial year 2018 within the deadline of 45 days from the end of the year in line with the regulations of the Securities and Commodities Authority (SCA).
As many as 49 UAE companies listed on the DFM have disclosed their preliminary results. Out of the 16 non-UAE companies dually listed on exchange, 14 companies have disclosed their results within the deadline.
The DFM has praised the commitment of the vast majority of its listed companies to comply with the SCA regulations and urged them to constantly ensure that they fully adhere to the deadlines in order to maintain the high level of compliance DFM listed companies regularly achieve.
The DFM employs advanced mechanisms enabling listed companies to swiftly disseminate their results and any other disclosures through the electronic disclosure system (Efsah).
The DFM has submitted a detailed report to (SCA) including the dates of the disclosure and its observations to take the necessary action in regards to companies that missed the deadline.
About Dubai Financial Market:
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
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