Al Othaim announces phase II of IFRS transition plan
Abdullah Al Othaim Markets Company (4001.SE) announced phase II of its transition plan to International Financial Reporting Standards (IFRS). The company has changed the target date for the approval of its accounting policies to 30 November 2016 from 31 October 2016, targeting to prepare the first IFRS financial statements on 31 December 2016 for 1Q16 and 2Q16. (Tadawul) Al Othaim: SAR83.82 as of 27 October 2016, Rating: Buy, FV: SAR127.00 per share, MCap: USD1,006mn, AOTHAIM AB / 4001.SE
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