In continuation of what has been mentioned on the financial results of Saudi Cable Company and the provisions for hedging, the Company would like to explain that due to new accounting regulations, the Company was required to take extra provisions against hedging of confirmed customer orders. The Company and its subsidiaries adopt a conservative approach and hedge all their exposures. At 31st December 2008 the Companys net worth was thus temporarily reduced by about SR 111 million from its 50% owned company in Bahrain. This temporary reduction has already been substantially eliminated on the shipment of orders during the 1st quarter of this year.
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.