Development Works Food Co. Announces an update on Development Works Food Co announces that it has not been able to publish its annual financial results ending on 12-31-2020 AD on the Saudi Stock Exchange website (Tadawul) on time due to failure to complete the requirements of the review process for the financial statements for the year 2020 before 31-03-2021
| Element List | Explanation |
|---|---|
| Introduction | Further to the Development Works Food Co's announcement on 08/18/1442 AH corresponding to March 31, 2021 AD regarding its inability to publish its annual financial results for the period ending on December 31, 2020 AD,
This is because a number of accountants were infected with Corona, which caused the entire financial department to be closed. Accordingly, the external auditor was unable to complete the review process for the annual financial statements and prepare the financial statements for the Development Works Food Co for the year 2020 AD on the previously expected date 04/15/2021 AD, according to what was mentioned in the previous announcement referred to above. The annual financial results of the company for the year 2020 will be announced upon the completion of the review processes, after receiving the required information from the external auditor as soon as possible during the statutory period ending on 04/29/2021. |
| Previous Announcement | Development Works Food Co announces that it has not been able to publish its annual financial results ending on 12-31-2020 AD on the Saudi Stock Exchange website (Tadawul) on time due to failure to complete the requirements of the review process for the financial statements for the year 2020 before 31-03-2021 |
| Date of Previous Announcement on Tadawul's Website | 2021-03-31 Corresponding to 1442-08-18 |
| Percentage of fulfilled achievement | Not Applies |
| Event's Expected Completion Date | As soon as possible during the statutory period ending on 04/29/2021 AD. |
| Reasons for Exceeding the Announced End Date | The external auditor was unable to complete the review process for the annual financial statements and prepare the financial statements for the Development Works Food Co for the year 2020 AD on the previously expected date 04/15/2021, according to what was mentioned in the previous announcement referred to above. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not Applies |
| Impact of the Delay on the Company's Financial Results | NA |
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