Alujain and Thimar miss Q2 earnings disclosure deadline

The deadline given by the Saudi Stock Exchange (Tadawul) to Alujain Corporation and National Agriculture Marketing Co. (Thimar) to disclose their second quarter 2019 earnings expires today (September 19).

The two firms failed to meet disclosure deadline that ended on August 21, stating in separate statements that the issue is beyond their control.

Trading of the two firms was suspended for one day on August 22, and was resumed for two trading sessions from August 25 until September 19.

Failure to disclosure on Sunday September 22 means the trading of the shares will be suspended until both firms disclose their financial results as per the listing rules published last March.

The rules state that shares of firms that fail to meet disclosure deadline will be suspended for one day, after that they can resume trading for 20 sessions. However, if they fail again to disclose, their shares will be suspended for trading until the firms disclose.

In the case the suspension exceeds one month period, the firm can request permission to be traded outside the platform.