Abu Dhabi has introduced new financial disclosure regulations for companies listed on the Abu Dhabi Securities Exchange (ADX). These rules aim to ensure transparency and provide clear information on matters that could influence stock prices.
Listed companies must disclose the agenda and timing of their Board of Directors meetings, where topics impacting stock prices are discussed, at least two working days in advance. ADX has mandated that decisions made during these meetings should be publicly disclosed immediately after the meeting concludes, but not on the same day.
For example, if a meeting is scheduled for Friday, 27 September 2024, the company must reveal the agenda by Tuesday, 24 September. Failure to comply would breach market disclosure regulations.
Additionally, companies are required to submit their third-quarter financial reports in both Arabic and English via ADX’s E-Services. These reports should include comparative quarterly data, audited financial statements, and reports prepared in accordance with International Financial Reporting Standards (IFRS). Financial data must be disclosed either before or after the trading session, following ADX guidelines. If not disclosed by 9am, the company’s trading will be suspended temporarily.
