Saudi Indian Company for Co- operative Insurance (WAFA) has published its preliminary financial results as of 31/12/2013 on Tadawul’s website on Tuesday 20/3/1435H corresponding to 21/1/2014. The company’s auditors’ report contained a disclaimer of opinion on these preliminary financial results.
Based on the Capital Market Law issued by Royal Decree Number (M/30) Dated 2/6/1424 H, the CMA is allowed to cancel any securities in the market or suspend its issuance or trading if necessary, and based on the Listing Rules issued by the Board’s decision number (3-11-2004) and dated 20/8/1425H corresponding to 4/10/2004 which states that CMA can suspend or cancel the securities listing if it considered that the issuer operations’ level or its assets do not justify the continuous trading of its securities in the market, in addition to the auditors’ disclaimer of opinion;  the CMA Board has issued its decision to suspends the trading the shares of Saudi Indian Company for Co- operative Insurance (WAFA) on the Saudi Stock Exchange (Tadawul) starting from today, Wednesday 21/3/1435H corresponding to 22/1/2014 until the company adjusts its finances.