Aldrees Petroleum and Transport Services Co. [4200.SE] announced phase II of its transition plan into International Financial Reporting Standards (IFRS). As per its approved accounting policies, the company will implement IFRS gradually, relying on its internal accounting team. The target date for the preparation of the first IFRS financial statements for FY15 is on 30 November 2016,  to allow for a gradual transition to IFRS accounting by 1Q17. (Tadawul)   Aldrees: SAR30.64 as of 27 October 2016, Rating: Buy, FV: SAR49.50 per share, MCap: USD327mn, ALDREES AB / 4200.SE