Tabuk Agricultural Seeks 80% Capital Reduction to Offset Losses
TADCO 6040.SA | 0.00 |
Tabuk Agricultural Development Co. announced on August 5, 2026 that its Board of Directors is convening an Extraordinary General Meeting (EGM) scheduled for August 31, 2026 at 6:30 p.m., to be held in person at the company's project guest house in Tabuk City and via the Tadawulaty platform. The primary agenda item is a vote on the Board's recommendation to reduce the company's share capital by 80.47%, from SAR 391,767,000 to SAR 76,524,600, achieved by cancelling 31,524,240 shares — reducing the total share count from 39,176,700 to 7,652,460 shares at a ratio of one share cancelled for every 1.24 shares owned. The capital reduction is intended to restructure the company's capital in order to offset accumulated losses, with no anticipated impact on the company's financial obligations, operations, or regulatory status. Remote electronic voting will be available via Tadawulaty starting August 27, 2026.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97313&anCat=1&cs=6040&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/7866_474_2026-08-05_16-09-12_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/7866_474_2026-08-05_16-09-59_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/7866_474_2026-08-05_16-09-42_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.