MedGulf placed on temporary trading halt

03/08/2017 Argaam

The Capital Market Authority (CMA) has placed a trading halt on shares of the Mediterranean Gulf Insurance and Reinsurance Co. (MedGulf) starting from today, Thursday, August 3, until Monday, August 7, 2017 upon the company’s request, the regulator said in a statement to the Saudi bourse (Tadawul).

 

The Saudi insurer said it will announce a “material event”.

 

Earlier today, MedGulf said it received a letter from Saudi Arabian Monetary Authority (SAMA) warning of legal procedures against the company if it did not rectify irregularities in its accounting or if it delayed disclosing financial statements, Argaam reported.

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