Correction announcement from a Sharqiyah Development Company regarding its announcement of the interim financial results for the fiscal period ending on 06/30/2023 (six months)
| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul's Website | 2023-08-10 Corresponding to 1445-01-23 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | It was mentioned in the earnings per share item for the current period of the fiscal year 2023 (six months) (-0.06) and the similar period (six months) of last year (-0.03). |
| Correct Statement | The earnings per share for the current period (six months) is (-0.121), while the earnings per share for the similar period of last year (six months) is (-0.076). |
| Additional Information | The loss per share was calculated by using the weighted average method, where the number of days was calculated from the beginning of the period until the date of the last day of exercising rights, which was on 05/23/2023, which was 142 days, in addition to calculating the number of days starting from the day following the last day of exercising rights until the end of the period, which amounted to 38 days. Also, the share price was extracted on the day of issuing the rights issue, which was 23.52 riyals, in addition to calculating the theoretical share price for the previous rights, which amounted to 13.38. Accordingly, the settlement coefficient was extracted by dividing the share price on the day of issuing the rights issue by the share price Theoretical, to produce a settlement coefficient of 1.76. After that, the weighted average of the shares from the beginning of the period until the last day of exercising the rights was calculated, which amounted to 10,413,333, and the weighted average of the shares from the last day of exercising the rights until the end of the period, which amounted to 6,333,333. Finally, the net loss for the current period was divided by the total weighted average (- 2032869 / 16,746,667) so that the loss per share is -0.121 for the current period and -0.076 for the same period last year
After dividing the net loss for the period by the total weighted average for the similar period of the previous year (-1,005,276 / 13,200,200) (attached) |
| Attached Documents |  |
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