Further notice from Taiba Holding regarding the update of the revaluation of compensation for expropriation of the plot of land (5061)

Further to the aforementioned announcement of Tadawul website dated 14/03/05/24 H corresponding to 25/03/2014 about the announcement of Taiba Holding Company on the latest objection to the decision of the Ministry of Finance on the value of appreciation of the property of the holding of the plot of land No. (5061), and what it included Declaration of the issuance of the preliminary judgment of the competent department of the Administrative Court in Madinah on 14/2/20 / H corresponding to 2013/12/23 AD, which requires the cancellation of the decision of the Ministry of Finance containing the estimate of the property referred to and owned by Taiba Holding Company No. 8/1/48 and the date 1427 And the Ministry of Finance to re-estimate the value of the property in accordance with the system of expropriation of real estate For the public benefit, where the defendant – the Ministry of Finance – objected to him within the prescribed time limit, and that on 1435/05/24 corresponding to 25/03/2014 was received the judgment of the Administrative Court of Appeal in Makkah Region, including the ratification and support of the judgment issued by Which means that the ruling has become final and enforceable and thus obligate the Ministry of Finance to re-estimate the value of the property in accordance with the system of expropriation of real estate. On the basis of the request of the branch of the Ministry of Finance in Madinah to review a good representative to them, a check was received in the amount of (2,737,720) million, seven hundred and thirty-seven thousand seven hundred and twenty riyals Which represents the difference between the value of the compensation objected to – received by Taibah Holding previously during the year 2011 – the amount of (106,771,080) one hundred and six million seven hundred and seventy-two thousand and eighty riyals and the value of the last recalculation that was based on the ruling of the Administrative Tribunal referred to above, Objection to the new estimate value b Asylum according to the applicable regulations to the Administrative Court.