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27-Oct-2016

Savola announces phase II of IFRS transition plan

Savola Group (2050.SE) announced that it had finalised its IFRS implementation plan, which was approved by Savola's Board of Directors and its audit committee. Management is currently in the process of finalising the accounting policies necessary for the preparation of the first IFRS financial statements. The target date for the final approval of these accounting policies is 29 November 2016 to allow a gradual transition to IFRS accounting by 1Q17. (Tadawul)   Savola: SAR31.90 as of 26 October 2016, Rating: Neutral, FV: SAR40.00 per share, MCap: USD4,542mn, SAVOLA AB / 2050.SE

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