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Osool & Bakheet Investment Company Announces Receipt of a Notice from an Investee Company Regarding the Temporary Suspension of Services
| Element List | Explanation |
|---|---|
| Announcement Detail | On 09/03/2026, Osool & Bakheet Investment Company received a notice from the executive management of an investee company classified as a financial investment at fair value through profit or loss, including a statement from the Saudi Central Bank that the company had not fulfilled the requirements for license renewal. Accordingly, the investee company will temporarily suspend providing services to its clients until the regulatory requirements necessary for license renewal are completed. The investee company is currently working to fulfill the required requirements and coordinate with the relevant supervisory authority, in a manner that ensures the resumption of services in accordance with the applicable regulatory framework. Osool & Bakheet will disclose any material developments related to this .matter as soon as they become available Financial Impact: At this stage, the financial impact resulting from the temporary suspension of the investee company’s services cannot be determined precisely, as it depends on the duration of the suspension and the completion of the license renewal requirements with the competent supervisory authority. Given that Osool & Bakheet’s investment in this company is classified as a financial investment at fair value through profit or loss, any potential financial impact, if any, will be reflected through changes in the fair value of the investment upon conducting periodic valuations in accordance with the relevant accounting standards. Any potential impact, if any, may also be reflected in the financial results for the current financial period, the results of which have not yet been issued. The Company will disclose any material developments in this regard in due course. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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