Alkhabeer Cap says Alkhabeer REIT Fund’s 2019 financials to be postponed until April 29

Alkhabeer Capital Co., the fund manager of Alkhabeer REIT Fund, Alkhabeer REIT announced on Monday that the latter’s financial statements for the fiscal year 2019 will be postponed until April 29, 2020.

The fund manager said in a bourse filing that the decision was made after discussions with the fund’s auditor, and aims to benefit from the extension granted by the Capital Market Authority (CMA) to listed companies to disclose their statements to improve the auditing process effectiveness.

According to data compiled by Argaam, Alkhabeer REIT was unable to disclose its annual financial results for FY2019, as the external auditor did not complete the audit procedures on time.

On March 31, 2020, the Capital Market Authority (CMA) extended the deadline for the Tadawul-listed companies which have not disclosed their board reports and financial statements until Wednesday, April 29, 2020.