Global Investment House (Global) announced today that it has requested Kuwait Stock Exchange (KSE) and other stock markets on which the company shares are traded to suspend trading of the shares temporarily on Monday, 25 April 2011 until the public disclosure on the outcome of the joint appeals between Global and Bank of Umm Al Quwain on the dispute relating to the recovery of USD250 million deposit in addition to the interest and fees.
Dubai courts had set Monday, 25 April, 2011 for issuance of the verdict which is expected to be during trading hours. In our continuous efforts to follow the highest transparency standards and to avoid any misuse of such sensitive information prior to the official disclosure by the company, the management decided to temporarily suspend trading the company's shares on Monday until the official disclosure of the verdict is made.
No comments:
Post a Comment