Taiba Holding Company announces the results of its 31st Ordinary General Meeting

The statutory quorum for the holding of the 31st Ordinary General Meeting of the Shareholders of Taibah Holding was completed on the first date of the meeting of the Assembly which was held at the headquarters of Taibah in Madinah at the fifth hour of the afternoon of Monday 1437/06 / 19H corresponding to 2016/03/28. By an absolute majority of those entitled to vote on the agenda items of the Assembly in accordance with the following: 1. Approve the report of the Twenty-sixth Board of Directors for the fiscal year ending on 31/12/2015. 2 – Ratification of the balance sheet and profit and loss account for the fiscal year ending in 12/12/2015. 3- Approval of the auditor’s report for the fiscal year ending in 2015. 4 – Approval of the discharge of the members of the Board of Directors for their management during the financial period ended 31/12/2015. 5. Approve the distribution of dividends to the shareholders for the fourth quarter of the year 2015, equivalent to 5% of the share capital of SR 75,000,000 (SR5.5 million) per share, in addition to its distribution of periodic profits, The Board of Directors’ proposal for the first three quarters of 2015 which equates to 15% of the capital by SR 225,000,000 for the share of the profit balance. In the fiscal year 2015 amount of (300 million) three hundred million riyals ( (2) SR per share and 20% of the capital. The entitlement to profit for the fourth quarter of 2015 will be for Taiba shareholders registered with Tadawul records as at the end of the trading day of the Association and will be disbursed within two weeks from the date of the Assembly. 6- Approving the disbursement of a sum of SR 1,800,000 as remuneration to the members of the Board of Directors in accordance with paragraph (4) of Article (46) of the Statutes of Taibe by (200,000) riyals per member for the fiscal year ending on 12/12/2015. 7. The selection of Dr. Mohammed Al-Omari & Co.’s office as legal accountants and consultants as an external auditor for Tiba Holding quarterly and annual accounts for the fiscal year 2016. 8. Approval of the continuation of the deal between Taibah Holding and Albatapol-Strata International IT Company, which is headed by the Board of Directors of Taiba Holding, Mr. Ghassan bin Yasser Shalabi, as a result of following up the implementation of the Microsoft Business Solutions Software Development and Application Agreement Dynamix and the complementary agreement related to the implementation of the CRM software, for a total amount of (414,279) four hundred and fourteen thousand two hundred and seventy-nine riyals, including the renewal fees of Microsoft Dynamics.