Lock-up period for firms with Q3 ending on Sept 30 begins today

16/09/2020 Argaam

The lock-up period for board members and senior executives of Tadawul-listed companies whose fiscal period ends on Sept. 30, 2020, began today, Sept. 16.

 

The lock-up will end when the companies disclose their audited financial statements.

 

Through this move, the Capital Market Authority (CMA) aims to ban board directors and executives from benefiting from insider information to trade on companies’ shares.

 

The Q3 2020 earnings reporting season will run from Oct. 1 until Nov. 11, 2020.

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