Taiba Holding invites its shareholders to attend the 32nd Ordinary General Meeting (1st Meeting)

The Board of Directors of Taibah Holding is pleased to invite shareholders to attend the 32nd Ordinary General Assembly Meeting, which will be held by the will of Allah at 6:30 pm on Wednesday, 1438/07 / 12H at the headquarters of Latiba Holding in Madinah – King Abdullah (the second ring) with the new road of Sayed Al Shuhadaa to consider the following: 1- The voting on the report of the twenty-seventh board of directors for the fiscal year ended in 2016/12/12. 2 – Vote on the balance sheet and profit and loss account for the fiscal year ending in 2016/12/12 AD. 3 – vote on the auditor’s report for the fiscal year ending in 2016/12/12 AD. 4 – vote on the discharge of the members of the Board of Directors for their management during the financial period ended 31/12/2016. 5. The voting on the distribution of dividends to the shareholders for the fourth quarter of 2016 equivalent to 4% of the capital amount of SR 60,000,000 (SR 0.40) per share, provided that the rights of the shareholders of Taiba Holding The Securities Depository Center at the end of the trading day of the Association and will be disbursed within two weeks from the date of the Assembly. 6. The voting on 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) The total amount of distributed dividends and those proposed for distribution for the fiscal year 2016 amounted to SR 240,000,000 (40 million Saudi Riyals), or SR 1.60 per share, representing 16% of the share capital. 7- To vote on the payment of a sum of (1,800,000) Riyals as remuneration 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 31/12/2016. 8 – Vote on the selection of auditors from among the candidates by the Audit Committee to review the annual financial statements for the year 2017 and quarterly financial statements and the provision of Zakat services and determine the fees. 9- Vote on the Board of Directors of Taibah Holding to distribute semi-annual or quarterly dividends for the financial year 2017 according to the regulatory requirements issued by the competent authorities. 10- Vote on the works and contracts that will be concluded between the company and Al-Baybol-Strata International Company for IT – whose board of directors is headed by Mr. Ghassan bin Yasser Shalabi, who has direct or indirect interest and license for next year. The transactions during the year 2016 were a total of 438,998 four hundred and thirty-eight thousand nine hundred and ninety-eight riyals resulting from the follow-up of the implementation of the agreement for the development and application of business software solutions Microsoft Dynamics system and the supplementary agreement related to the implementation of CRM software – and Annex II to the ERP Application Agreement. Each shareholder has the right to attend the said assembly in accordance with the Companies Law. A shareholder who can not be present at the specified time has the right to delegate to the other shareholders or others to attend the said meeting provided that the agent is not a member of the Board of Directors or a member of Taiba. To be in writing and certified by one of the Chambers of Commerce and Industry, or a local bank to which the shareholder to account, or to write a notary or a person authorized to do the documentation and to reach the headquarters of Tiba in Medina at least two days before the meeting, each shareholder or his representative The Attendance shall be at least one hour before the date of the meeting to complete the registration procedures, noting that the number of shares representing the quorum of the meeting is 75,000,000 shares or 50% of the issued shares. To download the power of attorney form please click here.