Red Sea says unable to publish 2022 financials on time

30/03/2023 Argaam

Red Sea says unable to publish 2022 financials on time

Logo of Red Sea International Co.

Red Sea International Co. announced that it is unable to disclose its financial results for the year ended on Dec. 31, 2022, within the specified time as the company is still working with the external auditor to issue the annual financial statements for the year, according to a Tadawul filing.

 

Red Sea and its external auditor expect to complete the audit work and publish the annual financial statements before April 27, 2023, the statement added.

 

Procedures for trading suspension of listed securities will apply to Red Sea’s shares, based on the listing rules approved by the Capital Market Authority (CMA) and Tadawul.

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