| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement published by Osool & Bakheet Investment Company on the website of Saudi Exchange (Tadawul) on 31 March 2026 regarding its inability to publish the annual financial statements for the year ended 31 December 2025 and the Board of Directors’ report within the statutory deadline, the Company would like to inform its shareholders that the audit process is still ongoing. The Company is currently completing the technical procedures related to the valuation of its investment in Creative Future for Digital Brokerage, and management will proceed with publishing the financial statements upon their finalization and approval. |
| Previous Announcement | The announcement published by Osool & Bakheet Investment Company on the website of Saudi Exchange (Tadawul) on 31 March 2026, regarding the Company’s inability to publish its annual financial statements and Board of Directors’ report for the year ended 31 December 2025 within the prescribed statutory deadline. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-03-31 Corresponding to 1447-10-12 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The audit is in its final stages, with ongoing efforts to complete the technical procedures related to determining the fair value of the Company’s investment in Creative Future for Digital Brokerage, in coordination with external advisors and the external auditor. This includes finalizing the valuation in accordance with International Financial Reporting Standards (IFRS), addressing and resolving technical comments, and concluding the related accounting treatments. The Company confirms that intensive efforts are ongoing to complete these procedures at the earliest possible time, and it remains committed to promptly disclosing any material developments |
| Reasons For The Delay on The Date of The Event Previously Announced | The continued delay is attributable to the incomplete technical procedures related to the valuation of the Company’s investment in Creative Future for Digital Brokerage. In this regard, Osool & Bakheet Investment Company has engaged an independent external specialist advisor to perform validation procedures over the key assumptions and inputs, including assessing their measurability and observability in line with best practices. This is intended to enhance the reliability of the valuation outcomes and the associated accounting measurement in accordance with the requirements of International Financial Reporting Standards (IFRS), and to achieve results that are more robust and verifiable. This is in light of the previously disclosed notification received from Creative Future for Digital Brokerage regarding the non-fulfilment of certain requirements for license renewal, which resulted in a temporary suspension of services until such requirements are satisfied. Accordingly, additional and extended procedures have been undertaken to validate the underlying assumptions and inputs, and to appropriately reflect the impact of this event within the valuation process, thereby ensuring the accuracy and reliability of the accounting measurement in accordance with IFRS and its fair presentation in the financial statements. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no material additional costs associated with this event at the current time. Any potential financial impact, if any, will be disclosed in the financial statements upon their issuance. |
| Delay consequences on the Company’s financial results | The impact of the delay is limited to the timing of the issuance of the financial statements, with no material effect on the Company’s operations at this time. The impact primarily relates to investments measured at fair value through profit or loss (FVTPL), pending the completion of the valuation procedures. |
| Additional Information | As the Board of Directors’ report includes financial data and information derived from the annual financial statements, it cannot be issued prior to the finalization and approval of the financial statements. Accordingly, the Company’s inability to publish the financial statements within the statutory deadline has resulted in a delay in issuing the Board report, which will be published upon approval of the financial statements. The Company also confirms that trading suspension procedures will be applied in accordance with the Listing Rules of Saudi Exchange (Tadawul), and trading will resume after one trading session following the publication of the financial statements. The Company further affirms its commitment to timely disclosure of any material developments and will provide monthly updates regarding the delay in publishing the financial results. |
