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Press release by the PSE: PLAZA's disclosure of preliminary financials of 2007.

2008-02-14

Palestine securities exchange received the preliminary revised financial statements from the internal auditors of Arab Palestinian Shopping Centers, as of December 31, 2007. This disclosure came within the applied disclosures system, which grants every listed company a month and a half as utmost period for disclosing the preliminary financial results of 2007. It is revealed by the in formations presented by the PLAZA that, it had been disclosed using the electronic reporting standard, and a signed paper copy of the internal audited preliminary financials in English language was sent to be verified from the board of directors parallel with another copy that had been sent to the CMA and PSE. Also the annual report of the PLAZA will be published after the general assembly meeting that will be also held in April, 2008 to discuss these financial results. This preliminary financials were published on the PSE website as soon as it released by the PLAZA. PLAZA"s financial results pointed out to net loss of $ 529,005 to the year 2007 versus $ 563,233 in 2006. Total assets amounted $ 12,776,414 in 2007 after amounting $ 11,085,713 in the year 2006. It is also noticed that the total liabilities had soared to amount $ 7,039,259 versus $ 4,819,553 in the same period of 2006. Shareholders" equity dropped in 2007 to $ 5,737,155 after it had amounted $ 6,266,160 in 2006.

 

 


 

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