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Abdullah A. M. Al-Khodari Sons Company announces the renewal of Islamic credit facilities from Gulf International Bank.

Abdullah A. M. Al-Khodari Sons Company announces the signing of the renewal of Islamic credit facilities agreement with Gulf International Bank (GIB) on 28/03/2017 in the amount of SAR 252 million (Saudi Riyals two hundred fifty-two million only).

These credit facilities are to provide bonding commitments and fund the working capital and capex requirements of the projects. 60% of the facilities are funded under Murabaha modes of financing and documentary credits, whereas 40% limits are for multi-purpose bonds.

The facilities are secured by promissory note and assignment of the contract proceeds of the financed projects. The agreement will expire on 27/02/2018; however, the credit limits will mature over the life of the prospective financed projects. The Murabaha facilities are settled at various periodical maturities.

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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