Insiders' trading ban starts September 16 on ADX

Abu Dhabi Securities Exchange (ADX) has announced that insiders’ trading prohibition period will start today, 16th September 2024, pending the full disclosure of the third quarter 2024 financial statements.

ADX stated that the decision has been taken in accordance with the Article No. (14) of Securities and Commodities Authority (SCA) Board of Directors’ Decision No. (2/R) of 2001 concerning the regulations as to Trading, Clearing, Settlement, Transfer of Ownership and Custody of Securities.

The resolution shall be circulated to SCA, all listed companies, all departments at ADX, all brokers accredited by ADX, and all ADX investors.

According to Article 14, it shall not be permitted for a chairperson, members of the board of directors of a company, any of the employees who has access to insider information to trade, whether by themselves or through others in the securities of the same company or its parent company, subsidiary, affiliate or allied company if any of those companies were listed on the market, during a period of 15 days before disclosing the financial statements of the company and until they are disclosed.