Wafa says Q1 financials to be delayed until Dec. 31

01/12/2019 Argaam

 

Saudi Indian Co. for Cooperative Insurance (Wafa Insurance) announced postponing the announcement of its financial statements for the period ended March 31, 2019 until December 31, 2019, the company said in a bourse statement on Sunday.

 

Wafa Insurance was unable to publish its financial results on time as it hasn’t completed the required procedures to prepare the statements.

 

It would be difficult to measure the financial impact of delaying the publication of Q1 2019 financials, the insurer added.

 

Procedures for suspending trading of listed companies in accordance with the listing rules as announced on Tadawul website on March 25, 2019 are applicable to Wafa Insurance.

 

In September, the insurance company said it would publish its financials for Q1 2019 by November 30, 2019, according to data compiled by Argaam.

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