The Capital Market Authority has decided to prohibit insiders and their relatives from trading in securities on the Palestine Exchange until the disclosure of financial data for the first quarter.
Seven (7) out of forty seven (47) listed companies on the Palestine Exchange have failed to comply with the legal deadline for disclosing interim financial data for the first quarter of 2022. These companies are:
- Ahlia Insurance Group (AIG)
- Al Mashreq Insurance (MIC)
- Palestine Insurance Company (PICO)
- Dar Al-Shifa Pharmaceuticals (PHARMACARE)
- Golden Wheat Mills (GMC)
- Palaqar (PALAQAR)
- Sanad Construction Resources (SANAD)
This decision is based on Article 3/1/d of the current disclosure regulations of the Palestine Exchange, which stipulates that ‘listed companies must disclose interim data to the market by preparing a periodic report (quarterly) in accordance with International Accounting Standards within a maximum period of 45 days from the end of each three-month period, subject to external audit by the company’s external auditor.’
