Taiba Holding announces the results of its 24th Ordinary General Meeting

The shareholders voted on the agenda items of the 24th Ordinary General Assembly and approved the report of the Twenty-first Annual Board of Directors, the approval of the balance sheet, the profit and loss account, the auditor’s report and the discharge of the members of the Board of Directors for their management during the financial period ended December 31, 2010 and approve the Board of Directors’ proposal on the profits achieved for the fiscal year 2010 by approving a dividend distribution of 10% of the capital of Taiba, including the profits previously distributed for the first quarter of 2010 equivalent to (3%) of the capital amount of (45) million irrigation The Board of Directors approved the Board of Directors’ proposal for the payment of dividends for the rest of the year equivalent to 7% of the share capital of SR (105) million (SR 0.70) per share to be paid within three weeks from the date of the AGM The total amount of dividends distributed and those proposed for distribution for the fiscal year 2010 amounted to SR (150) million (SR 1) per share and 10% of the capital, in addition to the selection of Messrs. Al-Sebti and Banqa, accountants and legal auditors Raja accounts for Taibah quarterly and annual holdings for the fiscal year 2011.