On April 1, 2026, Tabuk Agricultural Development Co. announced its Board's recommendation to reduce the company's capital by 77.41% from SAR 391,767,000 to SAR 88,484,470 to write-off accumulated losses of SAR 303,282,530. The capital reduction will be executed by cancelling 30,328,253 shares, reducing the total share count from 39,176,700 to 8,848,447 shares, with shareholders losing 0.7741 shares for each share held. The proposal requires approval from regulatory authorities and an Extraordinary General Assembly, following a previous failed capital reduction attempt in December 2025. The company stated the reduction will have no material impact on its obligations, operations, or performance.

Original announcement:

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