Ash-Sharqiyah says unable to timely issue Q3 2024 results, expects disclosure on Dec. 2

Logo of Ash-Sharqiyah Development Co.

Ash-Sharqiyah Development Co. announced its inability to disclose financial results for the three-month period ended Sept. 30, 2024, within the specified deadline, according to a Tadawul statement today, Nov. 11.

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The company attributed the delay to the non-completion of the audit process, adding that it is still working on providing the external auditor’s requirements related to obtaining the approved appraisal report for one of the affiliates to help complete the audit work. 

The preliminary financial statements for Q3 2024 will be published within 15 business days, the company said, expecting the financials to be posted on Dec. 2.

The procedures for suspending trading of listed securities will be applied in accordance with the listing rules as of Nov. 12, according to the statement.