Thimar says unable to disclose Q3 2021 financials on time

National Agricultural Marketing Co. (Thimar) said it was unable to disclose Q3 2021 financial results within the regulatory period.

The company said, in a statement to Tadawul today, Nov. 11, that it has not yet finalized its preliminary financial statements for Q3 2019 and annual financial reports for the same year, as well as financial results for Q1, Q2, Q3, Q4 2020 and Q1, Q2 2021 by the external auditor and the absence of an audit committee selected by the general assembly.

The external auditor was changed at the shareholders’ request and the new auditor was approved by the extraordinary general assembly (EGM) held on Oct. 12, 2021. In addition, members of the audit committee were selected on same date.

Accordingly, the company was not able to disclose its financial results within the specified time.

The company expects the external auditor to complete the audit and review work and issue the financial statements for Q3 2019 and annual financials for the same year after 70 working days from the beginning of his work.

Any further developments in this regard will be announced, the statement noted. Thimar stated that the results of Q3 2021 will be announced immediately after the completion of the third quarter and annual reports of 2019 and the first, second, third, and annual quarters of 2020 and the first and second quarters of 2021.