Mohammad Al Mojil Group Company (MMG) published its interim consolidated financial results as of 30/06/2012 on The Saudi Stock Exchange (TADAWUL) website on Saturday 06/11/1433H corresponding to 22/09/2012G ,where the external auditor of the company issued a disclaimer opinion report on the company's interim financial statements.

 

The interim financial statements of the company showed losses of 540.80 million Saudi Riyals which resulting in a shareholders’ deficit of 279.80 million Saudi Riyals as of 30/06/2012.

 

Based on the Capital Market Law issued by the Royal decree number (M/30) and dated 2/6/1424H, the Capital Market Authority (CMA) is allowed to cancel any securities in the market or suspend its issuance or trading if necessary and the Listing Rules issued by the CMA Board’s decision number (3-11-2004) and dated 20/8/1425H corresponding to 4/10/2004G which states that CMA can suspend or cancel the securities listing if CMA considers it necessary for the protection of investors, or the maintenance of an orderly market, or the issuer operations’ level or its assets do not justify the continued trading of its securities in the market.

In response, the CMA board has issued its resolution to continuing the suspension of trading the shares of MMG on The Saudi Stock Exchange (Tadawul) until it corrects its financial position.