“Dubai Market” transfers the listing of “Gulf Navigation” shares from the second category to the first

The Dubai Financial Market announced today, Monday, the transfer of the listing of Gulf Navigation Holding Company shares from the second category to the first category, effective April 2, 2024.

The decision comes based on the decision of the Chairman of the Authority’s Board of Directors No. (13/R.M) of 2020 regarding procedures for dealing with troubled listed public joint-stock companies.

The Securities and Commodities Authority had issued a decision in 2020 regarding the implementation of procedures for dealing with troubled listed public joint-stock companies, which stipulates the creation of a follow-up list that includes companies whose shares were transferred from the first category to the second category due to the suspension of the listing of their shares for a period of six months or more or that The company has achieved accumulated losses of 50% or more of its capital based on the company’s latest audited annual financial statements, for the purposes of monitoring the performance of those companies.