Correction announcement from the Eastern Development Company regarding its announcement of the annual financial results ending on 12-31-2023 (twelve months)
| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2024-03-25 Corresponding to 1445-09-15 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | The profit (loss) per share for the comparative year 2022 stated a value of -0.43. |
| Correct Statement | Earnings (loss) per share for the comparison year 2022
-0.242 |
| Additional Information | Loss per share was calculated for the comparison year 2022 and the weighted average number of ordinary shares for the previous year was adjusted retrospectively to reflect the rights issue element as required by IAS 33, (Earnings per Share). The weighted average number of ordinary shares for the previous year was calculated using an adjustment factor of 1.76, which is The ratio of the incorrect theoretical price of SAR 10 and the closing price per share of SAR 23.52 per share on May 11, 2023, the last day on which the shares traded before the rights issue.
Basic and diluted loss per share are as follows: December 31, 2022 Common shares on January 1 7,500,000 Modified Rights/Bonus 5,700,000 The weighted average number of shares is 13,200,000 Calculating the loss per share for the comparison year 2022 Net loss attributable to shareholders 3,197,035- The weighted average number of shares is 13,200,000 Basic and diluted loss per share 0.242- |
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