Saudi Indian Company for Cooperative Insurance (Wafa Insurance) announces updated expected dates of announcing the late financial statements
| Element List | Explanation |
|---|---|
| Introduction | In addition to the published announcement in Tadawul on 18-08-1442 H Corresponding to 31-03-2021 G regarding the expected dates of announcing the late financial statements, the company announces the update of these dates. |
| Previous Announcement | The expected dates of announcing the late financial statements. |
| Date of Previous Announcement on Tadawul's Website | 2021-03-31 Corresponding to 1442-08-18 |
| Percentage of fulfilled achievement | Not Applicable |
| Event's Expected Completion Date | 1- The interim financial Statements for the period ending on 31-03-2020, it is expected to be announced before 31-07-2021.
2- The interim financial Statements for the period ending on 30-06-2020, it is expected to be announced before 31-08-2021. 3- The interim financial Statements for the period ending on 30-09-2020, it is expected to be announced before 30-09-2021. 4- The Annual financial Statements ending on 31-12-2020, it is expected to be announced before 30-11-2021. 5- The interim financial Statements for the period ending on 31-03-2021, it is expected to be announced before 31-12-2021. |
| Reasons for Exceeding the Announced End Date | This is due to what the company has been exposed to in the previous period of being subjected to financial reorganization procedures in accordance with the Saudi bankruptcy law and what caused that of delay in publishing financial statements for previous periods on their regular dates, and the necessity of first completing the publication of the late financial results of previous periods. The financial statements for the above mentioned periods will be published sequentially according to the arrears. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
| Impact of the Delay on the Company's Financial Results | The financial impact cannot currently be determined, and this impact - if any - will be disclosed in due course. |
| Additional Information | The company is currently undergoing the financial reorganization procedure under the Saudi bankruptcy Law |
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