ADX Achieves 100 Percent in Disclosure Compliance
Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 100% regarding the disclosure of the annual financial statements of its 69 listed public and private joint stock companies within the deadline of 90 days from the end of the financial period. All public and private joint stock companies listed on ADX disclosed their annual financial statements for 2017 within the 90 days period given.
It is worthy to note that the total net profit of all public listed companies as of 31 December 2017 has shown an increase of 144.59% in comparison to the same period last year. The highest recorded increase was in Services Sector with 125.55%, followed by the Energy Sector with 118.79%.
On this occasion, ADX stated that the collaboration between the Exchange and its listed companies has always proved to be a productive one, which we can clearly see through the high level of collaboration in the compliance that the companies has adhered to.
Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange (ADX) was established on 15th of November 2000 by Local Law No. (3) of 2000, the provisions of which vests the Market with a legal entity of autonomous status, independent finance and management, and gives ADX the necessary supervisory and executive powers to exercise its functions.
Moreover, ADX has the authority to establish centers and branches outside the Emirate of Abu Dhabi, and so far it has done so in Al Ain, Zayed City, Fujairah, Ras Al Khaimah and Sharjah.
ADX's board of directors is comprised of seven members nominated by Amiri Decree. The members of the board hold office for a term of three years. The first board of directors was constituted by Amiri Decree No. (8) of 2000.
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