Sadirat says unable to publish Q2 2024 financials on time

Logo of Saudi Industrial Exports Co. (Sadirat) 

Saudi Industrial Exports Co. (Sadirat) announced that it is unable to disclose its financial results for Q2 2024 within the specified time, according to a Tadawul statement.

The company explained this was due to the shareholders’ abstention from voting to appoint the external auditor from among the nominees during the ordinary general assembly held on June 23, 2024.

The company's management confirmed that the draft financial statements are ready for approval by those with authority and then for the external auditor within a maximum of five working days from the assembly's approval by extending the existing auditor for Q2 2024.

The extraordinary general meeting (EGM) is expected to be held on Aug. 12.

The financials are expected to be posted no later than Sept. 1, in case the EGM approves to appoint an external auditor.

The statement noted that trading on listed securities will be suspended on Aug. 12, according to the listing regulations.