The company said in a statement to the Saudi market (Tadawul) today, Sunday, that the exit comes in line with its directives and strategic plan to exit from some of its investments in other companies different from its activity The main focus is on investment and real estate development.

The financial impact of this sale will appear and will be reflected in the financial statements of Taibah Investment Company after completion of the regulatory procedures.

The company indicated that part of this financial impact is the reversal of the value of a (good) share allocation from the loan guarantee granted by the Saudi Industrial Development Fund to the fiberglass oasis company, which has a value of 67.82 million riyals, which (Taiba) previously formed against the aforementioned guarantee, according to what was announced in the company's annual financial results announcement for the year 2018.