Taiba Holding Company announces the approval of the Capital Market Authority to increase its capital for the purpose of acquiring all the minority shareholders in Al-Aqeeq Real Estate Development Company and the majority of minority shareholders in Arab Tourism Areas Company (Arak)

Further to the foregoing, on 20/02/2019, no objection was issued by the General Authority for Competition to complete the economic concentration process by acquiring Tiba’s minority shareholders in Al-Aqeeq Real Estate Development Company (Al-Aqeeq Company) and the majority of minority shareholders in the Arab Company for Tourist Areas ), Taiba is pleased to announce to its shareholders the approval of the Capital Market Authority (CMA) on 14/03/2016 on the request of Taiba Holding Company to increase its capital from (1,500,000,000) billion and five hundred million Saudi Riyals to (1,604,574,830) billion Six hundred and four million five hundred and seventy-four thousand and two (10,457,483) ten million four hundred and eighty-seven ordinary shares for the purpose of acquiring all minority shareholders in Al-Aqeeq Real Estate Development Company, representing 8.10% and 12.65% of the shares of the Arab Company for Tourist Areas (See you). Taibah will complete the procedures of convening the Extraordinary General Assembly for its shareholders in coordination with the relevant official authorities and announce this at a later date, as well as publishing the shareholders’ circular concerning the increase of the capital of the company well before the extraordinary general assembly meeting referred to.