July 09, 2024
(eng) In reference to the announcement made by National Company for Learning and Education (NCLE) on the Tadawul website on 7-7-2024 G corresponding to 1-1-1446 H regarding the approval of the Extraordinary General Assembly to amend article (44) of the Company’s Bylaws, which resulted in shifting the Company’s fiscal year end to July 31 instead of August 31, NCLE announces its intention to execute this transition as follows:
1) The Company will issue “audited” financial statements for the current fiscal year as an exceptionally Short Fiscal Year (11 Months) due to the execution of the transition, which starts on 1-September-2023 and ends on 31-July-2024, during the regulatory publishing deadline that ends on 31-October-2024.
2) After which and starting from the First Quarter (ending on 31-October-2024) of the fiscal year ending on 31-July-2025, the Company will issue all financial statements for the fiscal periods from the fiscal year ending on 31-July-2025 and beyond in a normal manner and in correspondence with the fiscal years of NCLE, and during the regulatory publishing deadlines applicable to companies with fiscal year ends on July 31.
NCLE would also like to clarify that the execution of this transition will not have any effects on the Company’s financial or operational performance.
NCLE will announce any major updates in due time, if any.
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