96% compliance in UAE companies’ preliminary annual disclosures: DFM

DUBAI, Dubai Financial Market, DFM, today announced that its UAE listed companies have showed a 96 percent compliance rate to disclose their preliminary results for the financial year 2019.

Listed companies must disclose their preliminary results within a 45-day period from the end of the year, in line with the Securities and Commodities Authority, SCA, regulations.

As many as 47 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.

It employs advanced mechanisms enabling listed companies to swiftly disseminate their results and any other disclosures through Efsah, the electronic disclosure system.

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.

Source: Emirates News Agency