DUR HOSPITALITY COMPANY ANNOUNCES RECENT DEVELOPMENTS IN RELATION TO THE INITIAL DISCUSSIONS WITH TAIBA INVESTMENT COMPANY TO STUDY THE MERGER OF THE TWO COMPANIES

Mar 13 2022
ELEMENT LIST EXPLANATION
Introduction Further to the announcement made by Dur Hospitality Company (the “Company”) on the Saudi Exchange website on 03/11/1442H (corresponding to 13/06/2021G) in relation to the initial discussions with Taiba Investment Company (“Taiba”) relating to studying the merger of the two companies, the boards of directors of the two companies have agreed to end the initial discussions relating to the merger of the two companies, and not to proceed with studying it.
The board of directors of the Company confirms that its strategic vision will enable it to continue developing the services provided by the Company to serve the interests of its shareholders, customers and employees and enhance its leadership and competitive position.
The Company’s board would like to thank Taiba and all parties involved for their efforts.
Previous Announcement Dur Hospitality Company announces the decision of its Board of Directors on starting the initial discussions with Taiba Investment Company to study the merger of the two companies.
Date of Previous Announcement on Tadawul's Website 2021-06-13 Corresponding to 1442-11-03
Percentage of fulfilled achievement Not applicable
Event's Expected Completion Date Not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. The Company incurred cost of advisers in relation to the negotiations, but the Company does not foresee material adverse financial impact in relation to this event.
Additional Information Not applicable

 

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.