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Abdullah A. M. Al-Khodari Sons Company announces signing of renewal Islamic credit facilities from Banque Saudi Fransi.

Abdullah A. M. Al-Khodari Sons Company announces the signing of renewal of Islamic credit facilities agreement with Banque Saudi Fransi (BSF) on 07/08/2017 in the amount of SAR 204,536,847 (Two Hundred Four million and Five Hundred Thirty Six Thousand Eight Hundred Forty Seven Riyals).

The purpose of these facilities is to provide bonding commitments and fund the working capital and capex requirements of the company. 38% of the facilities are funded under Morabaha/Tawarroq modes of financing, whereas 62% limits are for multi bonds.

The credit agreement shall expire on 31/01/2018 however the credit limits shall mature over the contractual lives of the financed projectswhich is 18 months. The facilities are to be liquidated at a percentage of each collection from certain the financed projects, repayment is set in monthly instalment of varying amount between SR 1 million to 2 million. The facilities are secured by promissory note and assignment of the contract proceeds of the financed projects.

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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