| Element List |
Explanation |
| Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul's Website |
2023-04-09 Corresponding to 1444-09-18 |
| Hyperlink to the Previous Announcement |
Click Here |
| Incorrect statements in the previous announcement |
The Company owns 3.45% shares in Najm for insurance services company and this was historically carried at cost, amounting to SAR 1.9 million, will now be valued at fair value estimated to be at SAR 37 million for the years ended 31 December 2022, based on the independent valuation carried out by Najm following the adoption of IFRS 9 “Financial Instruments” effective January 01, 2023. |
| Correct Statement |
The Company owns 3.45% shares in Najm for insurance services company and this was historically carried at cost, amounting to SAR 1.9 million, will now be valued at fair value estimated to be at SAR 39.7 million for the years ended 31 December 2022, based on the independent valuation carried out by Najm following the adoption of IFRS 9 “Financial Instruments” effective January 01, 2023. |
Comments