Published: Jul 20, 2014
Source: Tadawul

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The Saudi Stock Exchange (Tadawul) announces that the accumulated losses of Al Alamiya for Cooperative Insurance Company has reached 50% or more and less than 75% of its capital

Based on the instructions and procedures related to listed companies with accumulated losses reaching 50% or more of its capital, issued by the board of the Capital Market Authority (CMA) pursuant to its resolution number 4-48-2013 dated 15/1/1435H corresponding to 18/11/2013G, and as a result to the announcement of Al Alamiya for Cooperative Insurance Company dated 17/07/2014 that its accumulated losses reached (57.1%) of its capital, and since this percentage of accumulated losses represents 50% or more and less than 75% of its capital, the Saudi Stock Exchange (Tadawul) under the aforementioned instructions and procedures will do the following:

1. Suspend trading of the company’s shares for two hours from session opening. While orders maintenance will start from 12:30.

2. Put a yellow flag next to the company’s name on Tadawul website. 

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