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Further to the announcement dated 29.8.2016, regarding the IFRS convergence plan, Saudi Ground Services announces the progress in its plan on implementation of International Financial Reporting Standards (IFRS), Phase two as required by Saudi Capital Market Authority (CMA). In addition to our phase one announcement, an independent consultant firm (PKF Al-Bassam & Al-Nemer Allied Accountants) is engaged for reviewing the work done by SGS internal team on IFRS implementation and to validate the IFRS transition process for further assurance before submission of the relevant draft accounting policy amendments & IFRS opening financials for Audit Committee and Board approval.Therefore the target date for approval of Accounting Policies necessary for preparation of IFRS financial is changed to 25th December,2016.