Taiba Holding announces the update of the two calls for objections to the values of compensation for the disposal of some of the property of Taiba and its subsidiary Arak

Further to the announcement on 09/11/1433 H corresponding to 25/09/2012 regarding the announcement of Taiba Holding Company on the latest objection to the decision of the Ministry of Finance on the value of the appreciation of a good property of the plot of land No. (5061) for his hometown and unfairness, which was expropriated in favor of The expansion of the Eastern Square of the Prophet’s Mosque, which also includes the announcement of the Arab Company for Tourist Zones (Arak), a subsidiary of Taiba Holding, which owns 86.81% of its capital, 2092,2091) on which the City Hotel is located Te and lack of fairness and which have been removed in favor of expanding their ownership of Western scene of the Prophet’s Mosque, and it was this Day 13/01/1434 AH, 27 th / 11/2012 include: 1. With respect to the judgment issued by the Taiba Holding Company against the Ministry of Finance, it reviewed the company’s lawyer for the Administrative Court in Madinah, stating that the Ministry of Finance’s lawyer presented the list of objections to the ruling issued by the company during the regular period. The case was sent to the Court of Appeal for examination. 2. With regard to the ruling issued in the case of Arak against the Ministry of Finance, the list of objections to the administrative court in Medina was handed over by Arak’s lawyer during the regular period. Any updates on the invitations, if any, will be announced at the time.