Tihama stock on halt today for not disclosing financials on time

Logo of Tihama Advertising and Public Relations Co.

The Saudi Exchange (Tadawul) announced the suspension of trading on Tihama Advertising and Public Relations Co.’s shares as of today, July 1, until the close of this trading session, according to a statement.

In its statement, Tadawul said the trading halt was due to the company’s failure to disclose its annual financial statements for the fiscal year ended March 31, 2024, within the regulatory timeframe specified in the rules governing securities listings and ongoing obligations issued by the Capital Market Authority (CMA).

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This decision was made based on the market's authority as stipulated in the listing rules and the procedures for suspending the trading of listed securities.

Trading on Tihama’s shares will resume for 20 trading sessions starting from July 2, following the session in which trading was suspended. The company must publish its financial statements by the end of July 29.

If the company fails to disclose the financial statements within the specified period, trading will be suspended again starting from July 30 until the statements are announced.

According to data available on Argaam, Tihama announced inability to publish on time its annual financial results for the period ended March 31, 2024, due to the failure to meet a quorum during the board meeting to approve the annual results.

Tihama is expected to publish its annual financial results on July 29.