Today, Tuesday, Tadawul Saudi Arabia announced the continuation of suspending the trading of the Saudi Cable Company’s shares in the market in accordance with the provisions of the listing rules until the company announces the treatment of auditors’ abstention from expressing an opinion on the annual financial statements for the year 2021.
Saudi Tadawul stated that the company’s auditors’ report stated that they refrained from expressing an opinion on the financial statements.
The “Saudi Tadawul” had suspended trading the shares of Saudi Cable Company from Monday 9 May 2022 until its announcement of the 2021 annual financial statements, given that the Saudi Cable Company did not commit to announcing the 2021 annual financial statements during the statutory period.
This is after the Saudi Cable Company announced that it was unable to publish its annual financial results ending on December 31, 2021 on the “Tadawul” website on time, due to a change in the external auditor’s report.
The company’s annual financial results showed an increase in its losses by 253.2% to reach about 194.31 million riyals in 2021, compared to losses of about 55.01 million riyals in 2020.