Tabuk Agricultural Development Co. announced on April 1, 2026 that its accumulated losses have reached SAR 303,282,531, representing 77.41% of the company's capital based on annual financial statements for the year ended December 31, 2025. The losses are primarily attributed to impairment in biological assets, increased production and logistics costs, and provisioning for receivables. In compliance with Article 132 of the Companies Law, the Board of Directors will call an Extraordinary General Assembly meeting by May 30, 2026 to consider the company's continuation and necessary measures to address the losses or dissolve the company. The company previously attempted a capital reduction proposal in December 2025, which was not approved by shareholders.

Original announcement:

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