Sadirat can’t timely disclose Q2 2024 results

Logo of Saudi Industrial Export Co. (Sadirat)

Saudi Industrial Export Co. (Sadirat) said it will not be able to disclose its financial results for Q2 ended June 30, 2024, on the expected date before Sept. 9, according to a Tadawul  statement.

 

The company attributed the delay to the shareholders’ failure to approve the auditor appointment to review and audit financial statements for Q2, Q3 and 2024, as well as Q1 2025, during the third extraordinary general meeting convened on Sept. 4. 

 

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The company added that it could not publish financial statements before shareholders appoint an auditor from candidates during the upcoming ordinary general assembly, whose details will be announced later. 

 

The procedure for suspending the trading of listed securities will be applied in accordance with the listing rules. 

 

According to data available to  Argaam, Tadawul suspended trading on Sadirat’s stock due to the company's failure to timely disclose the second-quarter financial statements for one trading session on Aug. 12. 

 

The stock resumed trading for 20 sessions as of Aug. 13. The company must publish its financial statements before the close of trading on Monday, Sept. 9, 2024. 

 

In addition, Tadawul said that if the company fails to publish its Q2 2024 results during the specified period, the stock’s trading will be suspended as of Sept. 10 until the issuance of the financial statement. 

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