The Authority approves Tabuk Agricultural Development Company's request to reduce its capital.

The Capital Market Authority announces its approval of Tabuk Agricultural Development Company's request to reduce its capital from SAR 391,767,000 to SAR 76,524,600, thereby reducing the number of shares from 39,176,700 to 7,652,460. This approval is conditional upon the approval of the company's Extraordinary General Assembly and the completion of all related regulatory procedures and requirements. The company will publish a report outlining the proposed method for the capital reduction and its anticipated effects well in advance of the Extraordinary General Assembly meeting to allow shareholders sufficient time to review and vote on the capital reduction resolution. The Authority's approval of the company's request to reduce its capital should not be construed as an endorsement of the feasibility of the capital reduction. The Authority's approval simply means that the company has complied with the regulatory requirements stipulated in the Capital Market Law and its Implementing Regulations.

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