Ash-Sharqiyah vows to disclose monthly updates on delayed financials

Logo of Ash-Sharqiyah Development Co.

Ash-Sharqiyah Development Co. vowed to announce monthly updates on the delayed financial results and is committed to the timely disclosure of any material developments, according to a statement to the Saudi Exchange (Tadawul) today, Nov. 12.

Ash-Sharqiyah announced on Nov. 11 its inability to disclose financial results for the three-month period ended Sept. 30, 2024, within the specified deadline, given the uncompletion of the audit work, data available to Argaam showed.

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The company is working on filing the requirements of the external auditor. Preliminary financial results for the period ended Sept. 30, 2024, will be published within 15 working days. The company expects to publish the final financial results on Dec. 2.

Tadawul placed today a one-day trading halt on Ash-Sharqiyah stock for non-compliance with the deadline to announce its financial statements for the period ended Sept. 30, 2024.