Taiba Holding Company announces the results of its 32nd Ordinary General Meeting

The statutory quorum for the holding of the 32nd Ordinary General Meeting of shareholders of Taiba Holding held at the headquarters of Taibah in Madinah at 6.30 pm on Wednesday, 1438/07 / 1515H corresponding to 2017/04/12, where the vote was approved by the shareholders by an absolute majority of those who have the right To vote on the agenda items of the Assembly in accordance with the following: 1. Approve the report of the Twenty-seventh Board of Directors for the fiscal year ending on 31/12/2016. 2 – Approval of the balance sheet and profit and loss account for the fiscal year ended in 2016/12/12 AD. 3 – Approval of the auditor’s report for the fiscal year ending in 2016/12/12 AD. 4 – Approval of the discharge of the members of the Board of Directors for their management during the financial period ended 31/12/2016. 5. Approve the distribution of dividends to the shareholders for the fourth quarter of 2016 equivalent to 4% of the capital by SR 60,000,000 (SR 0.40) per share, provided that the rights of the shareholders of Taiba Holdings registered with the Depository Center Securities as at the end of the trading day of the Assembly and will be disbursed within two weeks from the date of the Assembly. 6- Approving the distribution of the periodic profits which was based on the proposal of the Board of Directors for the first three quarters of 2016, equivalent to 12% of the capital amount of (180,000,000) one hundred and eighty million riyals (1.20) for each share of The total amount of dividends and those proposed for distribution for the fiscal year 2016 amounted to SR 240 million (SR 240,000) per share, representing 16% of the share capital. 7. Approve the disbursement of a sum of SR 1,800,000 as a bonus 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 for each member for the financial year ended on 31/12/2016. 8 – Selection of Mr. / Mohammed Al-Omari and Associates Office of Chartered Accountants and Consultants External Auditor of Taiba Holding Quarterly and Annual Accounts for the fiscal year 2017. 9. Approve the approval of the Board of Directors of Taibah Holding to distribute interim dividends semi-annually or quarterly for the financial year 2017 in accordance with the regulatory requirements issued by the competent authorities. 10. Approval of the works and contracts that will be concluded between the company and the company AlphaPatol – Strata International IT – whose Board of Directors is headed by the Board of Directors of Taibah Holding Mr. Ghassan bin Yasser Shalaby for his direct or indirect interest and license for next year, The total number of transactions during the year 2016 was 438,998 four hundred and thirty eight thousand nine hundred ninety eight riyals resulting from the follow-up of the implementation of the agreement to develop and implement the software business solutions Microsoft Dynamics system and the supplementary agreement related to the implementation of the software system CRM (CR) M) and Annex II to the ERP Application Agreement.