Dur Hospitality EGM to vote on Taiba's acquisition offer on Nov. 30

Dur Hospitality Co. headquarters

Dur Hospitality Co.'s shareholders will vote on the acquisition offer submitted by Taiba Investment Co., during an extraordinary general assembly meeting, to be held on Nov. 30, according to a statement to Tadawul.

Shareholders will also vote on the terms of the implementation agreement and authorizing the board of directors to adopt any decision or take any action as may be necessary to implement this resolution.

The Capital Market Authority (CMA) approved, on Nov. 6, Taiba Investments' application to increase its capital from SAR 1.604 billion to SAR 2.604 billion by issuing 100 million ordinary shares to acquire Dur Hospitality through a stock exchange offer, according to a statement.