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1810.O
1810.O
Al Tayyar Travel Group Holding has announced that its Board of Directors has approved the allocation of SAR 100 million for investment in securities listed on the Saudi Stock Exchange (Tadawul).
This comes as part of the Company’s strategy to diversify its investments and income sources in accordance with the regulations issued by the Capital Market Authority (CMA). The investment portfolio shall be self-financed, the Company said, adding that it is expected to see returns during the second quarter of 2015.
Al Tayyar noted that further announcements will be made in the future if the Group signs a contract with an authorised company to manage the portfolio.
It is worth noting that this approval came during the Group’s Board of Directors’ meeting on Thursday, November 20, 2014.
This comes as part of the Company’s strategy to diversify its investments and income sources in accordance with the regulations issued by the Capital Market Authority (CMA). The investment portfolio shall be self-financed, the Company said, adding that it is expected to see returns during the second quarter of 2015.
Al Tayyar noted that further announcements will be made in the future if the Group signs a contract with an authorised company to manage the portfolio.
It is worth noting that this approval came during the Group’s Board of Directors’ meeting on Thursday, November 20, 2014.
Source:
Mubasher
