Taiba Investments Successfully Lists Consideration Shares and Concludes Acquisition Process for Dur Hospitality

Taiba Investments made a significant announcement on Tuesday, confirming the successful completion of additional steps in the process of depositing Consideration Shares to entitled shareholders of Dur Hospitality. The Consideration Shares have been officially listed today, Tuesday, December 5, 2023.

In the disclosure on the Tadawul platform, the Company highlighted that due to the exchange ratio being an integer, there were no fractional shares issued to Dur’s shareholders. Consequently, there will be no trading or sale of fractional shares, and no proceeds will be deposited as a result.

This development follows Taiba Investments Company’s prior announcement on December 3, 2023, posted on the Saudi Exchange’s website. The announcement outlined the outcomes of an extraordinary general assembly meeting, which included the capital increase of the Company to facilitate the acquisition of all shares of Dur Hospitality Company. The entire transaction, including the increase in capital and the subsequent acquisition, has now been successfully concluded.