Taiba Holding announces the approval of the fourth extraordinary general assembly of the shareholders of Al-Aqeeq Real Estate Development Company (a subsidiary of Taiba Holding) to reduce the capital of the agate

Further to the above, published on Tadawul website on 6/7/2011 and dated 11/7/2011 on the subject of reducing the capital of Al-Aqeeq Real Estate Development Company – a subsidiary of Taibah Holding, which owns 89.899% of its capital – the Extraordinary General Meeting of Shareholders Al-Aqeeq said on Sunday, 30/8 / 1432H corresponding to 31/7/2011 at the headquarters of Al-Aqeeq Company in Al-Madinah Al Munawwarah. The Assembly unanimously approved the reduction of the capital of the agate from SR 3,000,000,000 to SR 1,945,960,000 by canceling (105,404,000) Of the shares of the company (300 million) shares, which equals the amount to be reduced by canceling (7) shares for every (2) 0) Shares held by the shareholders approved in the Company’s records on the day of the Extraordinary General Assembly, taking into account the equality of the shareholders pursuant to Article (145) of the Companies Law, and amend Articles 7 and 8 of the Bylaws. As the number of shares of the company after the reduction became 194,596,000 shares of nominal value of each share of ten riyals, and since the holding of Taiba Holding the same share in the previous capital of the company – before the reduction of the capital of the agate – a 89,899% has become the number of shares owned by Taiba Holding in the capital of Al-Aqeeq after its reduction is 174,939,857 shares with a nominal value of 1,749,398,570 riyals. Al-Aqeeq Company will complete the rest of the legal procedures resulting from the decision of the said Assembly. The results and effects of this will be reflected in the next quarterly financial statements for the period ended 30/9/2011, In A good demonstration on this subject and published on Tadawul website on 11/7/2011.