Taiba Holding Company announces the distribution of cash dividend for the third quarter of 2011 and the approval of the Board of Directors of the company to liquidate Afaq Quality Company

The Board of Directors of Taiba Holding held its eighty-ninth meeting in Yanbu on Wednesday 23/10/1432 AH corresponding to 21/9/2011. The Board decided at its meeting to issue a dividend for the third quarter of 2011 in the amount of SR 37,500,000 (thirty seven million five hundred thousand riyals) 2.5% of the capital of Taiba and the entitlement of those profits to the shareholders registered in its records at the end of trading on Wednesday 30/10/1432 H corresponding to 28/9/2011 where the dividend will be distributed at (0.25) twenty five halal per share within a month of Dated 28/9/2011, stated by the Deputy Chairman and Managing Director and Chief Executive Officer of Taibah Holding, Mr. Abdullah bin Mohammed Al-Zaid, who added that the Council has been briefed at the beginning of the meeting on developments in the course of business for various Taiba Holding and investments, and then consider its agenda and discussed the items on it and took the relevant appropriate decisions in which it was most important to approve the decision of the liquidation of Quality Horizons, which has a good 88? Of its capital of 50 million riyals so as to incur the losses of more than half of its capital due to the intensity of competition in the areas of the company’s activities, which are the most important information technology, and the results of the liquidation process will be announced after the completion of liquidation proceedings in this regard.