Press releases, Reports & Disclosures for Sudatel Telecommunications Group Company Limited

Resolution No. 343 of 2024 temporarily suspends trading of Sudatel Telecommunications Group Company Limited shares on the ADX. The suspension is due to a Board of Directors meeting scheduled for 13:00 on 26-Mar-2024, which coincides with the trading session at ADX. Trading will be suspended from 09:00 on 26-Mar-2024 until ADX receives the meeting results. The resolution instructs all department heads in ADX to execute this resolution in their respective fields and circulate it to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 22/03/2024.

The Abu Dhabi Securities Exchange disclosed on 11/01/2024 that trading in all securities on the Khartoum Stock Exchange has been suspended by the Financial Markets Regulation Authority in Sudan due to exceptional circumstances. The SUDATEL Telecom Group, a listed company on the Khartoum Stock Exchange, has no authority in this matter and the suspension applies automatically. For further information, contact can be made at Depcenter.kse.sd@live.com.

Sudatel Telecom Group Ltd. has announced to its investors that it is committed to distributing dividends declared for 2022, in accordance with the regulations and laws of the ADX. However, due to the ongoing war, restrictions on foreign exchange, and difficulties within the banking system, the company is currently unable to obtain necessary approvals from the Central Bank of Sudan and the National Telecommunications Authority. As a result, the transfer of dividends on October 27, 2023, will not be possible. Sudatel Group assures investors that the dividends will be disbursed as soon as the company receives the necessary approvals and the restrictions on foreign currency purchase and transfers are lifted.

Sudatel Telecom Group Ltd has announced to its investors that it will be unable to distribute dividends declared for the year 2022 on the 27th of October 2023 due to the ongoing war and the difficulties it presents in obtaining necessary approvals from the Central Bank of Sudan and the National Telecommunications Authority. The company also cites restrictions on foreign exchange and challenges with the banking system as reasons for the delay. The company assures investors that it will proceed with the disbursement as soon as it can obtain the necessary approvals and the restrictions on foreign currency purchase and transfers are lifted.