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Abdullah A. M. Al-Khodari Sons Company announces progress of transition plan to implement International Financial Reporting Standards (phase 3).

With reference to Company announcements on 29 August 2016 and on 27 October 2016 concerning the progress of transition plan to implement International Financial Reporting Standards (phases 1 and 2), Abdullah A. M. Al-Khodari Sons Company announces progress of transition plan to implement International Financial Reporting Standards (phase 3) as follows:

1-The accounting policies necessary for the preparation of IFRS financial statements have been approved on 18/01/2017.
2-The opening financial statement as on 01/01/2016 has been prepared in accordance with IFRS.
3-The preparation of financial statements for 2016 in accordance with IFRS is in progress. The target date to complete the preparation of these statements is 31st March 2017.
4-There are no significant effects on the Company as a result of implementing the IFRS.
5-The Company did not face any difficulties that might affect its ability to prepare its IFRS financial statements.
6-The Company confirms its readiness to prepare its IFRS financial statements for 2017 first quarter within the applicable regulatory period.

The Capital Market Authority and the Saudi Stock 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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Last Price Net Change
7.58 0.01 (+0.13%)
Value Traded (SAR) Volume Traded
3,821,043.06 502,457

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