​The Capital Market Authority (CMA) emphasizes its duty to ensure the transparency and disclosure levels in the announcements of listed companies which would help investors and traders in their investment decisions based on truthful information.

In the fourth quarter of 2012, CMA amended the General Instructions that must be taken into account by companies when publishing announcements. These instructions specify the basic data and information that should be included in all announcements of listed companies in Tadawul including announcements related to the financial results or any change in the capital or in general assemblies.

The announcement’s title should be clear and reflect this essential development and the announcement itself should explain all the important information related to the development and the dates related as well as the reasons behind it. If the development has a financial effect on the financial lists, it should be mentioned and if it did not have any effect, it should be mentioned as well with the reason for the lack of it.

The company shall ensure that any facts or information associated with the development are all correct, accurate and not misleading. It should not delete, exclude or hide any information that can affect and influence the content or the results of the essential development.
As for rumors, the company should know when to issue a statement and announce it on Tadawul to comment on any rumors related to essential developments in the company. CMA has the right to oblige companies to announce a statement if it is necessary.