Riyadh – Mubasher: Tihama Advertising and Public Relations said that the reason behind the suspension of its stock is the violation of its external auditor, UTC International Chartered Accountants.
The company assured that it will take the official actions against the reasons behind such a loss, to protect the rights of the company and the shareholders, according to a bourse filing on Sunday.
The Saudi Capital Market Authority (CMA) announced the suspension of the Tihama’s stock from trading, starting from 7 August, until it discloses its audited financial statements.
This step came after Tihama said its financial statement results for the period ended 30 June, 2016 would be delayed.
The ordinary general meeting (OGM) of Tihama will meet on 4 September to approve appointing another external accounting office, the statement said.
