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Clarification announcement from the Capital Market Authority and the Saudi Stock Exchange Company in regard to continuing the suspension of trading the shares of Abdullah A. M. Al-Khodari Sons Company’s Shares

In reference to the Saudi Stock Exchange Company ("Tadawul") announcement dated 25/08/1440H, corresponding to 30/04/2019G regarding the trade suspension of Abdullah A. M. Al-Khodari Sons Company’s ("Company") shares due to the Company's failure to announce its financial statements (annual financial statement ending 31/12/2018) during the specified period stated in the Rules on the Offer of Securities and Continuing Obligations starting from Tuesday 25/08/1440H, corresponding to 30/04/2019G until the Company announces its financial statements, in addition to Abdullah A. M. Al-Khodari Sons Company’s non-compliance with announcing its interim financial statements ending 31/03/2019G according to its announcement on the Saudi Stock Exchange Company (“Tadawul”) website dated on 07/09/1440H, corresponding to 12/05/2019G and the Capital Market Authority ("CMA") Announcement dated 24/09/1440H, corresponding to 29/05/2019G regarding the continuation of Abdullah A. M. Al-Khodari Sons Company's shares trade suspension on the Saudi Stock Exchange until the issuance of the Court's decision on the company's application for the commencing a financial restructuring procedure, and to the Company's announcement on the Saudi Stock Exchange Company (“Tadawul”) website on 28/10/1440H, corresponding to 01/07/2019G, regarding the approval of the Company's request of filing for financial restructuring procedure.


And reference to the procedures relating to the issuer whose securities are listed on the Exchange when applying for commencing a financial restructuring procedure in accordance with the Bankruptcy Law referred to in the CMA's announcement dated 28/07/1440H, corresponding to 04/04/2019G that stated the suspension of trading shall be lifted upon the commencement of the financial restructuring procedure for the issuer in accordance with the Bankruptcy Law, unless the issuer is banned from carrying out its activities by the relevant competent authority. And given the trade suspension of the Abdullah A. M. Al-Khodari Sons Company’s shares until it announces its financial statements in accordance with the Listing Rules and the procedures of Suspending the Trading of Listed Securities in accordance to the Listing Rules.


The CMA and Tadawul would like to clarify that the suspension of trading of the shares of Abdullah A. M. Al-Khodari Sons Company on the Saudi Stock Exchange will continue until the Company announces its financial statements in accordance with the Rules on the Offer of Securities and Continuing Obligations unless there is a legal constraints that require the continuation of the Company's shares trade suspension.
 

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