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Al-Jawf Agrees to Capital Increase
Al-Jouf Agricultural Development Company announced the signing of a binding agreement with Al Munajem Foods Company for strategic investment in the company through a capital increase of 15%, by issuing 4.5 million shares at a price of 52.5 Riyals per share, for a total value of up to 236.25 million Riyals. The capital will increase from 300 million Riyals to 345 million Riyals after approval by the regulatory authorities and the General Assembly, with a necessary amendment to the company's bylaws and a reduction in the number of Board members to six. This step aims to strengthen the partnership and expand the company's capital base.
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