Alujain Corp.’s financial statements for the period ending on June 30, 2019 will be delayed for a reason beyond its control, the company said in a bourse statement.
Alujain said it was unable to publish its financial results on time as it received a letter from the CEO and managing director of its affiliate NATPET regarding refraining from delivering any future quarterly financial statements based on a voting result of NATPET general assembly.
The listed firm confirmed that it has taken necessary procedures with relevant parties to protect shareholders interests.
No financial impact is expected to result from this issue, the statement added.
A trading halt will be placed on the company's shares in line with the listing regulations announced in March, 25, 2019.
The deadline granted to Alujain by Tadawul to disclose its financials for Q2 ends today, according to data compiled by Argaam.
The Saudi Stock Exchange (Tadawul) suspended trading on the shares of Alujain Corp. for one trading session on Thursday, Aug. 22. The trading was then resumed for 20 sessions starting from Sunday, Aug. 25 until Thursday, Sept. 19.
The stock will be halted starting from Sunday, Sept. 22 until the company discloses its financials.
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