Al-Ahsa Development signs portfolio management deal with Saudi Fransi Capital

Al-Ahsa Development Co. Announces signing of an agreement with Saudi Fransi Capital for Discretionary Portfolio Management, and company transfer all portfolios to the Saudi Fransi Capital for the purpose of Saudi equities listed trading, based on the decision by the company Board of Directors No. 392/2013 dated 01/01/1435, corresponding to 04/11/2013. The conservative assessment on 31/10/2013 was SAR 105 millions, and then re-evaluated when converted to the new portfolio at the end of trading 10/11/2013 was SAR. 110 million; and the company to indicate that investment is measured in securities to be traded in the balance sheet financial on the basis of fair value and are recognized gains and unrealized losses in the income statement of the financial period the portfolio pervious was measured investment in securities available for sale in the balance sheet at fair value and are recognized gains and unrealized losses in a separate item in owners equity.and the purpose from this portfolios is to severalised the investment and revenue.