Sadirat can’t timely disclose Q2 2024 results

Logo of Saudi Industrial Export Co. (Sadirat)

Saudi Industrial Export Co. (Sadirat) could not disclose its financial results for Q2 ended June 30, 2024, on the expected date before Sept. 9, according to a Tadawul statement today, Sept. 5.

The company ascribed the delay to the shareholders’ failure to approve the auditor appointment to review and audit financial statements for Q2, Q3 and FY 2024 and Q1 2025, during the ordinary general meeting held on June 23 and the third extraordinary general meeting convened on Sept. 4.

For more news on listed companies

The company added that it would not be able to publish financial statements before shareholders appoint an auditor from candidates during the ordinary general assembly, whose details will be announced later.

Procedures for suspending the trading of listed securities will be applied in accordance with the listing rules.

According to data available to Argaam, Tadawul had suspended trading on Sadirat’s stock due to the company's failure to timely disclose the second-quarter financial statements, for one trading session on Aug. 12.

The stock resumed trading for 20 sessions as of Aug. 13. The company must publish its financial statements before the close of trading on Monday, Sept. 9, 2024.

Tadawul also said that, if the company fails to publish its Q2 2024 results during the specified period, the stock’s trading will be suspended as of Sept. 10 until the issuance of this financial statement.