The Board of Directors of the Capital Market Authority (CMA), issued a document that includes the suspension of securities of the Bisha Agricultural Development Company from the Saudi Shares Market (Tadawul), effective from today. CMA said the suspension decision was issued because of losses in capital of the company as shown in its financial statement issued on Wednesday January 10, 2007, which would affect substantially the integrity of the Company's financial position, pointing out that the resolution will continue until the end of the causes of the suspension. Earlier, CMA had requested the Company to re-issue its financial statement for the third quarter of fiscal year 2006, which shows the resulting financial impact on the evaluation of investments in securities rather than postpone the statement to this effect until the issuance of the annual financial statement of the 2006, the company announced on Wednesday (January 10, 2007) -- the amended financial statement of the Company for the period ending on September 30, 2006 showed a net loss of SR 22.3 million riyals for the period. The decision of the CMA was taken on the basis of the article (Six/a/7) of the Capital Market, promulgated under Royal Decree No. M/30, dated August 1, 2003.
