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‎Nama Chemicals explains delay in completing audit, issuing financial statements

Source
Argaam - Main News
Source link
https://www.argaam.com/en/article/articledetail/id/1929858
Published
2026-08-17 08:56:00
Discovered by ProcIntel
2026-08-17 06:23:39
Category
GCC Spotlight
Geography
Saudi Arabia
Organisations
—
Review status
Pending
Record type
REAL

Summary

‎<p><img src="https://argaamplus.s3.amazonaws.com/327a4cc3-0cb8-4885-817e-ad3067642262.png"></p> <p class="ckeCaption" >Logo of Nama Chemicals Co.</p> <hr> <p ><!--StartFragment--><a href="https://www.argaam.com/en/tadawul/tasi/nama-chemicals" target="_blank">Nama Chemicals Co.</a> explained its inability to publish its annual financial results for the year ended Dec. 31, 2025, within the statutory deadline was mainly due to several reasons.<!--EndFragment--></p> <p ></p> <p >The reasons included completing procedures related to the SAR 200 million capital injection by FAAD First Industrial Co. under the binding agreement to invest in JANA, which would result in a 40% reduction in the ownership stake.</p> <p ></p> <p >The company also needed to complete the process of obtaining the Saudi Industrial Development Fund’s (SIDF) approval to restructure the loans.</p> <p ></p> <p >In addition, it was working to obtain approval for SAR 140 million in working capital financing.</p> <p ></p> <p >The company also needed to complete the review of the valuation work related to reversing the impairment provision.</p> <p ></p> <p >Finally, management was assessing the appropriateness of the going-concern assumption in light of the aforementioned remedial and mitigating factors, future outlook, and the company’s 2026 business plan.</p> <p ></p> <p >In a statement to <strong>Tadawul</strong>, the company said these factors materially affect the assessment of its financial position and future cash flows, and consequently the completion of the audit and issuance of its financial statements.</p> <p ></p> <p >It noted that it is working closely with the relevant parties and its external auditor to fulfill the outstanding requirements and publish the financial statements as soon as possible.</p> <p ></p> <p >The company will announce any developments in this regard as they arise, the statement added.</p> <p ></p> <p >According to data available with <span ><strong>Argaam</strong></span>, Tadawul suspended trading in Nama Chemicals’ stock since April 30, 2026, due to the company’s failure to announce its annual financial statements for the year ended Dec. 31, 2025, within the regulatory deadline.</p>

Procurement Relevance Gate

FAIL — score 7.0/100 — evaluated 2026-08-17 06:23:39
Only geographic exposure matched — no substantive content indicator, so this cannot pass alone.
  • geographic_exposure (weight 8) — matched on "1 linked geography"

Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.

A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.

Not Assessed — this Signal did not pass the Procurement Relevance Gate, or is fictional/excluded test data.