Tadawul halts trading on Jabal Omar shares for failing to submit Q3 financials

The Saudi Stock Exchange (Tadawul) suspends today, Nov. 12, 2020, trading on Jabal Omar Development Co. shares for one day.

The trading halt is due to the company’s non-compliance with announcing financial statements for Q3 2020 within the regulatory period.

The suspension will be lifted on Sunday, Nov. 15, 2020, for 20 trading sessions, and the company will be required to announce the financial statements before the end of Thursday, Dec. 10, 2020.

In case of non-compliance, trading will be suspended again from Dec. 13, 2020 until the financial statements are published.

The company announced on Nov. 11, 2020, that it was unable to publish financial statements for Q3 2020 within the specified period, as it still needs more time to discuss some technical issues with the auditor, so as to disclose these results in line with the International Financial Reporting Standards (IFRS).