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Tabuk Agricultural Reschedules Shareholder Vote
Taboon Agricultural Development Company announced that an extraordinary general assembly meeting will be held on September 27, 2026, to discuss and vote on a decision to reduce the company's capital by 80.47%, from 391.77 million riyals to 76.52 million riyals. The purpose of this reduction is to restructure the capital and cancel accumulated losses. The number of shares will decrease from 39.18 million to 7.65 million by cancelling 31.52 million shares. The decision will be effective for shareholders registered at the end of the second trading day after the meeting. This reduction will not affect the company's obligations, financial position, or operational performance. Shareholders will also vote on amendments to Articles (7) and (8) of the company's bylaws to align with this decision. Electronic voting will be available between September 23 and 27, 2026.
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