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Tabooq Agric holds meeting on capital reduction
Tadawul Agricultural Development Company announced its intention to invite its shareholders to the extraordinary general assembly meeting on August 31, 2026, to discuss a capital reduction of 80.47%. The company plans to decrease its capital from 391.76 million SAR to 76.52 million SAR, with the aim of restructuring its financial position and eliminating 99.99% of accumulated losses, which amounted to approximately 315.24 million SAR as of March 2026. The plan involves canceling 31.52 million shares, representing one share canceled for every 1.24 shares owned, while keeping the nominal value at 10 SAR per share. The company clarified that this measure will not affect its financial obligations or operational activities, and is intended to address losses resulting from decreased production, revenues, and restructuring costs. The reform plan targets restoring profitability by 2027 through asset improvement, cost reduction, and enhanced operational efficiency, including procedures to sell fractional shares resulting from the reduction and distribute returns to shareholders.
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