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English news

17-Jul-2018

Alujain might not release 2Q18 financials before assigned deadline

Alujain stated that it might be unable to release its 2Q18 financial results on a timely basis (before the deadline assigned by the Saudi Arabian market regulator) because of expected delays from NATPET (the company’s core subsidiary; 57.4% owned). Based on the release, the delay of NATPET’s Annual General Assembly has caused a delay in the appointment of an external financial auditor, thus leading to an expected lag in releasing 2Q financials. Finally, the company highlighted that the subject is more of a procedural issue, while pointing out that its operational performance is going well and in line with management expectations. 

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