Taiba Holding announces the results of its 26th Ordinary General Meeting

The meeting was held on the first date of the company’s meeting for the first time since its establishment 25 years ago. This comes in the light of the response of Taiba shareholders holding investors with the invitation to hold the meeting which was held at Taibah headquarters in Madinah at On the evening of Saturday, 08/05 / 1433H corresponding to 31/03/2012, where the shareholders voted on the agenda items of the Assembly and approved the report of the twenty-second annual report and the ratification of the balance sheet and SABB profits and losses and the auditor’s report and the discharge of the members of the Board of Directors for their management during the financial period ended 31/12/2011 and approve the Board of Directors’ proposal on the profits achieved for the fiscal year 2011 by approving a dividend distribution of 10% 1- The profits that were distributed previously during the year 2011, equivalent to 7.5% of the capital of (112.5) one hundred and twelve million five hundred thousand riyals. 2. The Board of Directors’ proposal for the payment of additional profits for the year 2011 equivalent to 2.5% of the capital by SR 37.5 million (0.25) per share, to be paid within two weeks from the date of the general assembly of Taiba Holding shareholders registered with Tadawul records. At the end of the trading day of the Assembly 08/05/1433 H corresponding to 31/03/2012. The total amount of dividends and those proposed for distribution for the fiscal year 2011 is SR 150 million (SR 1) per share representing 10% of the share capital, in addition to the selection of Mr. Sabti and Banqa as accountants and legal auditors. And the approval of the approval of the transactions that took place during 2011 with the related parties with Taiba, represented by the Arab Company for Tourist Areas (Arak) – a subsidiary owned by Taiba Holding with 86.81% of its capital – which was leased by Dar Al Kawthar, Holding for a period Will continue until 2015.