GO expects to disclose FY18 results by June 30

Etihad Atheeb Telecommunication Co. (GO) expects to disclose its annual financial results for the period ending on March 31, 2019 by June 30, the company said in a bourse statement on Monday.

The firm wasn’t able to disclose its annual results in time due to a delay in receiving the allocation letter of 50 megahertz (MHz) within the 3.5GHz frequency band and the frequencies locations, an important part of the negotiations which are expected to be completed by end of June, the statement said.

The financial impact of the delay in disclosing fiscal results cannot be determined, and further updates will be revealed as they occur, it added.

According to data compiled by Argaam, GO said in December that “Financials will be disclosed by March 31, 2019 maximum; the delay is driven by mergers and acquisitions talks in addition to any related procedures.”