Resumption of trading shares of “SNEP” company starts Monday

Casablanca- The listing of the shares of the National Society electrolysis and petrochemicals (SNEP), suspended on February 13, resumes on March 9 current, said Friday Casablanca Stock Exchange.

Following the request of the Ethics Council for Securities (CDVM) the equity securities trading halt of the subsidiary of Holding Ynna, SNEP, will resume from Monday, stressed the Casablanca place in a notice on its website.

The Securities Commission announced on 13 February that the Casablanca Commercial Court issued a decision regarding a dispute between Ynna Holding companies Fives FCB CPC and Morocco, and a binding entry on 1,560,000 shares SNEP held by Ynna Holding was pronounced.

Therefore, the Securities Commission had asked the Casablanca Stock Exchange to suspend trading of the SNEP action until the necessary information on the action to be taken in this procedure are made public.

Ynna Holding had an appeal pending before the Court of Cassation and committed legal procedures necessary to stop the execution of the sale of its shares in the capital of the SNEP.