Takween Advanced Industries Co. — Capital/Financing Update 2016

Nov 9, 2016

Takween Advanced Industries announces the Expected Financial Impact of the Floatation of the Egyptian Pound Exchange Rate Against Foreign Currencies

1201 · 09/11/2016 08:39:15 · Announcement #44535 · View on Saudi Exchange

Takween Advanced Industries announces the Expected Financial Impact of the Floatation of the Egyptian Pound Exchange Rate Against Foreign Currencies

Takween Advanced Industries announces the impact on its activities in Egypt for its affiliates company (New Marina), as a result of the official floatation of the Egyptian Pound Rate. The expected financial impact of that said floatation will negatively affect the fourth quarter 2016 consolidated net profit of the company by approximately SAR 45 Million, which was calculated based on the government floated rate range officially announced in this respect.

The company has implemented some preventive measures during the last period of this year which have the impact to minimize the negative effects resulted from the floatation of the Egyptian Pound exchange rate against foreign currencies.

The Capital Market Authority and Saudi 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.