Capital Market Authority approves Tabuk Agricultural capital reduction
The Saudi Capital Market Authority announced its approval of Tabuk Agricultural Company's request to reduce its capital from 391.77 million SAR to 76.52 million SAR, which decreases the number of its shares from 39.18 million to 7.65 million shares, subject to approval by the Extraordinary General Assembly and completion of regulatory procedures. The company will publish a report outlining the method of the reduction and its expected impacts before the voting, emphasizing that the approval does not constitute endorsement of the validity of the reduction, but simply compliance with regulatory requirements.
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