Announces Jouf Agricultural Development Company (Al-Jouf) all stages to keep pace for the transition to international accounting standards (Phase III)

17/1/2017

In addition to what reported by the company in Aalaneha dated 11/22/1437 H corresponding to 25/08/2016 AD and the date 26/01/1438 H corresponding to 10/27/2016 AD on stages to keep pace for the transition to international accounting standards, the company would like to disclose to our shareholders for the following:
1. The Board of Directors adopted for the preparation of financial statements in line with International Accounting Standards accounting policies, adopted to apply as of 01/01/2017 Eng.
2. The financial statements have been prepared according to international accounting standards for the first quarter of 2016 and a list of opening a financial center on the shift 01/01/2016 m.
3. There are no significant effects on the company following the application of international accounting standards.
4. There are no obstacles that may affect the Company's ability to prepare its financial statements in accordance with international accounting standards.
5. The company is ready to prepare its financial statements for the first quarter of 2017, according to international accounting standards during the regular period specified.