Kuwait exchange issues warning over Q1 results

by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 22 April 2009

SHARES WARNING: Companies who miss the May 15 deadline for first quarter results will have their shares suspended. (Getty Images)

Kuwait's bourse will halt trading in more firms for failing to report first quarter earnings on time, its director general has announced.

The warning came after stock exchange chiefs suspended trading in a total of 36 companies for not publishing 2008 results.

"The technical committee (of the bourse)...will halt (trading) in any firm that does not declare results of the first quarter...by the deadline which ends on May 15 without exceptions," said director general of the Kuwait Stock Exchange Saleh al-Fallah in comments published by the KUNA news agency.

Related: Kuwait bourse bans 36 firms from trading

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He did not name any companies threatened with suspension.

Earlier this month, the Kuwaiti bourse halted trading in the shares of 36 firms, more than a fifth of its listed companies, for failing to publish their 2008 earning in time.

It also warned it could halt trading in more firms for late payment of dividends.

On Wednesday, trading in 15 firms that did not report their 2008 earnings remained suspended.