Taiba Holding announces the results of its 27th Ordinary General Meeting

The meeting was held on the first date of the meeting of the Assembly. This comes in response to the response of Taiba shareholders holding investors with the invitation to hold the meeting which was held at the headquarters of Tiba in Medina at 7 pm on Sunday 19/05 / 1434H corresponding to 31/03/2013, where the shareholders voted by approving the agenda items of the Assembly in accordance with the following: 1. Approve the twenty-third annual report of the Board of Directors. 2. Ratification of the balance sheet, profit and loss account and auditor’s report. 3 – Release of directors from their management during the financial period ended 31/12/2012. 4. Approve the Board of Directors’ recommendation on the profits achieved for the fiscal year 2012 by approving a dividend distribution of 12% of the capital of Taiba, including the following: – The profits that were distributed previously during the year 2012, equivalent to 8% of the capital amount of (120) one hundred and twenty million riyals. – Dividends for the year 2012 equivalent to 4% of the capital by SR 60 million or SR 0.40 per share, to be paid within two weeks from the date of the general meeting of Taiba Holding shareholders registered with Tadawul records as at the end of Tadawul The Assembly is held on Sunday, 19/05 / 1434H corresponding to 31/03/2013. The total amount of dividends and those proposed for distribution for the fiscal year 2012 amounted to SR (180) million (SR 1.20) per share representing 12% of the capital. 5 – Payment of the amount 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 the benefit of (200,000) riyals per member for the financial year ended 31/12/2012. 6 – Selection of Mr. / Sabti and Banqa Chartered Accountants and Auditors External Auditor of Taiba Holding quarterly and annual for the fiscal year 2013. 7. Approve the transaction that took place during 2012 with one of the related parties with Taibeh to rent the Dar Al Kawthar property owned by Taibeh Holding for a period of five Hijri years starting from 01/08/1431 H with an annual rent of SR 4,500,000 for the Arab Company for Tourist Areas ), A subsidiary of Taiba Holding, owns 86.88% of its capital. Arak Board of Directors is chaired by Mr. Abdullah Bin Mohammed Al Zaid, Vice Chairman, Managing Director and Chief Executive Officer of Taiba Holding. Hamad Bin Saif Al Batal is a member of the Board of Directors of Arak. 8. Approve the working methods of the Audit Committee in accordance with paragraph (b) of Article XV of the Report of the Twenty-third Governing Council.