ADX Achieves 99 Percent in Disclosure Compliance in 2017

Press release
Published February 15th, 2018 - 10:55 GMT
Saif Al Mansoori, Head of Listed Companies at ADX
Saif Al Mansoori, Head of Listed Companies at ADX

Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 99% regarding the disclosure of the preliminary results of its listed public joint stock companies within the deadline of 45 days from the end of the financial period.

65 listed companies out of 66, local and foreign, disclosed their preliminary financial results for 2017 within the 45 days period given.

Mr. Saif Sayah Al Mansoori, Senior Head of Listed Companies Affairs Dept. at ADX commented: "The collaboration between ADX and its listed companies has always proved to be a productive one. We can clearly see the positive impact of this cooperation through the companies' fulfillment of their obligations on the disclosure of the 3rd quarter financial statements." 

 

Background Information

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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