Al Khazna said on Tuesday the matter regarding the share suspension of its publicly listed company on the Abu Dhabi Securities Exchange (ADX) was “a confidential matter” with the bourse.
Shares of Al Khazna were suspended from trading since Wednesday pending the third quarter results, the ADX said.
“As Al Khazna Insurance Co. didn’t submit their Financial Statement, hence it is decided to temporarily suspend trading on the company’s shares starting 15-Nov-2017 until further notice,” the ADX said in a statement last week.
Repeated calls, and email reminders sent to Abu Dhabi Securities Exchange remained unanswered.
The ADX said last week that 64 companies out of the 65 companies listed on it had published their third-quarter results. Normally, companies are supposed to publish their results 45 days from the end of the financial period.
The ADX said that Union National Bank, Sharjah Islamic Bank, National Bank of Umm Al Qaiwain and Eshraq Properties were the first to publish their results.
On Tuesday, Al Khazna shares closed at Dh0.30, down from the record of more than Dh3.4 in 2008.