Taiba Holding announces the results of its 28th Ordinary General Meeting

The statutory quorum for holding the 28th ordinary general meeting of shareholders of Taibah Holding was completed on the first date of the assembly meeting. This comes in response to the shareholders’ satisfaction of Taiba Holding investors with the invitation to hold the meeting which was held at the headquarters of Tiba in Medina at the fifth hour of the afternoon of Sunday 1435/06/06 / 04/06 AD, where votes were voted by the shareholders to approve the agenda items of the Assembly in accordance with the following: 1. Approve the twenty-fourth annual report of the Governing Council. 2. Ratification of the balance sheet, profit and loss account and auditor’s report for the financial year ending on 31/12/2013. 3 – Discharge of the members of the Board of Directors for their management during the financial period ended 31/12/2013. 4. Approval of the distribution of periodic profits for the first three quarters of 2013 equivalent to (10%) of the capital by SR 150 million and SR 100 per share of the balance of the profits realized and approval of the Board of Directors’ For the fourth quarter of 2013, equivalent to 4% of the capital of SAR 60 million (0.40) per share, to be distributed within two weeks from the date of the general meeting of the shareholders of Taiba Holding registered with the Tadawul records as at the end of the trading day of the Assembly – The date of exchange will be announced later – to become total The distribution of dividends and those proposed for distribution for the fiscal year 2013 amounted to SR (210) million (SR 1.40) per share, representing 14% of the share capital. 5 – Disbursement of the amount of (1,800,000) riyals 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 financial year ended on 31/12/2013. 6 – Selection of Messrs. Sabti and Banqa Chartered Accountants and Auditors External Auditor of Taiba Holding Quarterly and Annual for the fiscal year 2014. 7. Approve the deal that was made in 2013 with one of the related parties with Taibeh to rent the Dar Al Kawthar Hotel (Arak Inn) owned by Taiba Holding for a period of five Hijri years starting from 1431/08 / 01H with an annual rent of SR 4,500,000 for the Arab Company (Arak) – a subsidiary of Taiba Holding Taiba owns 86.88% of its capital – Arak Board of Directors is chaired by Mr. Abdullah Bin Mohammed Al Zaid, Vice Chairman, Managing Director and Chief Executive Officer of Taiba Holding. HE Dr. Hamad bin Saif Al-Batal is a member of the Board of Directors of RTA A. 8- Approving the deal that was executed on 14/11/23 / 2013H with AlfaPeople, one of Strata International Company for IT, whose board of directors is headed by Mr. Ghassan bin Yasser Shalaby, And the implementation of Microsoft Dynamics business solutions software at a cost of (234,750) two hundred and thirty four thousand and seven hundred and fifty riyals for a period of six months, renewable according to the stages of completion of the scope of agreed works and the subsequent provision of maintenance and support services.