Obeikan Glass says unable to disclose 2021 financials on time

Logo of Obeikan Glass Co.

Obeikan Glass Co. said in a bourse filing today, March 31, that it was unable to disclose its 2021 financial results within the specified time.

The company did not obtain the final report approved by the external auditor due to reasons beyond its control.

The glass manufacturer expects the external auditor to complete the audit process and publish the annual financial statements by April 16, 2022.

The Saudi Exchange (Tadawul) announced that a one-session trading halt will be placed as of April 3 on stocks of Obeikan Glass. Trading will resume for 20 sessions from April 4, and the financial statements should be disclosed before end of trading on May 8. Otherwise, another trading suspension will be placed on these stocks as of May 9, until financial statements disclosure.