Thimar BOD Discusses Financial Statements for 2019 and 2020, financial impact in 2021

Thimar Development Holding Co. announced on Sunday that the announcements published on the Tadawul website related to the publication of the final financial statements for the years 2019 and 2020, since the external auditor’s report included a set of refrains from expressing the opinion and reservations described in the report.

Board of Directors held an emergency meeting on Thursday 30 June 2022, and discussed the financial statements for the above mentioned periods, as well as the report of the external auditor, and took the necessary decisions and actions that contribute to addressing the refrains and reservations, in accordance with the regulations and in compliance according to professional accounting standards.

It is expected that the impact of these decisions and actions will appear on the company’s financial statements for the year 2021 and beyond. Noting that the company’s management is currently working with the external auditor to complete the audit process and issue the company’s financial statements as on December 31, 2021 as soon as possible.

The company’s management assures the valued shareholders that it will spare no effort in preserving and protecting the rights of the company and the rights of its shareholders.

The company will announce any developments regarding the above topics.