FuFurther to the announcement published on Tadawul's website on 20-01-2015 related to the interim financials for the period ended 31-12-2014 (TWELVE MONTHS) Knowlage Economic City Company announces addendum as :
1- In addition to the reasons mentioned previously, the reasons for the achievement of losses during the current quarter compared with the same quarter of the previous year are: -
Increase in cost of sales and achievement of unrealized losses from sale of land and increase of general and administrative expenses and realize a loss in the equity of associates share of income in addition to the settlement of infrastructure recorded as assets under construction during the development period.
2- In addition to the reasons mentioned previously, the reason of increase in net loss during the current period compared with the corresponding period of the previous year are :
Increase in cost of sales and increase of general and administrative expenses and decrease in income from deposits Murabaha revenues in addition to the settlement of infrastructure costs recorded as assets under construction during the development period.
3- In addition to the reasons mentioned previously, the reasons for the achievement of losses during the current quarter compared to the last quarter of this year are :
Increase in cost of sales and achievement of unrealized losses from sale of land and increase of general and administrative expenses and realize a loss in the equity of associates share of income in addition to the settlement of infrastructure recorded as assets under construction during the development period.
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.