Logo of Development Works Food Co. (DWF)
Development Works Food Co. (DWF) announced that it is unable to disclose its financial results ended June 30, 2024, within the specified time, according to a Tadawul statement.
The company said this was due to the failure of shareholders to approve the appointment of an auditor from among the candidates recommended by the audit committee, and to determining its fees during the ordinary general meeting (OGM) held on June 30.
This auditor was needed to review and audit the financial statements for Q2, Q3, Q4, and the annual statements for 2024, as well as Q1 2025.
The company confirmed that the draft financial statements will be prepared for approval by authorized parties and then for the external auditor's approval within five days after shareholders approve the auditor's appointment at the next OGM, the date for which will be announced later.
The company urged its shareholders to participate and vote on the OGM items, which will be held using modern technological means.
It also stated that it will provide monthly updates regarding the delay in publishing financial results and will ensure timely announcements if there are any significant developments.
Additionally, the company indicated that the expected date for publishing the financial results is Sept. 8, 2024. Trading of the listed securities will be suspended on Aug. 12, 2024, in accordance with listing rules.
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