Alujain Holding unable to disclose FY19 financials within regulatory period

Alujain Holding Corp. said in a bourse filing on Tuesday that its external auditor will not be able to complete the audit process of its FY19 financial results within the regulatory period for public disclosure, set by the Capital Market Authority (CMA).

Alujain’s external auditor on April 27 confirmed that the group audit instructions relevant to the financial statements of National Petrochemical Industrial Co. (NATPET) has not yet been received, though NATPET had earlier said its external auditor was directed to cooperate with Alujain’s auditor to publish the financial results on time.

NATPET was addressed on this matter on April 4, 7, 9, 17, 23 and 26, 2020,

The annual financial statements will be published as soon as possible after receiving the required information from NATPET’s external auditor.

Trading suspension will be applied according to the listing rules announced on March 25, 2019, the statement added.

On April 13, Alujain said it was unable to disclose its financial results for fiscal year 2019 as expected in its previous announcement on March 26, Argaam reported.