Taiba Investments Co. (SASE:4090) entered into a memorandum of understanding to acquire Dur Hospitality Company (SASE:4010) on December 17, 2022. Taiba Investments Co.

(SASE:4090) entered into a binding implementation agreement to acquire Dur Hospitality Company (SASE:4010) for SAR 3 billion on April 9, 2023. Under the terms, Taiba Investments will issue 100 million new ordinary shares as part of acquisition. After completion, Dur shareholders, who are registered in Dur shareholders?

register at the end of the second trading day after the date of the approval of the extraordinary general assembly relating to the Transaction of both companies, will receive one (1) Consideration Share in Taiba in return for every share they own in Dur (the ?Exchange Ratio?).Transaction is subject to approval from Capital Market Authority, Saudi Exchange on the listing of the Consideration Shares, Ministry of Commerce, Taiba' shareholders. On 20 June 2023, Taiba Investment Company announced the issuance of the General Authority for Competition's no-objection to the completion of the economic concentration process resulting from this transaction. Taiba has appointed J.P. Morgan Saudi Arabia as its financial adviser in relation to the Transaction, and appointed Khoshaim & Associates as its legal adviser.

JPMorgan Chase Bank, National Association acted as financial advisor to Taiba Investments Co.