The Saudi Arabia Capital Markets Authority approved Tabuk Agricultural Development Company’s request to reduce its capital from SAR 391,767,000 to SAR 184,356,390, cutting the number of shares from 39,176,700 to 18,435,639. The approval is conditional on the company obtaining extraordinary general assembly approval and completing required procedures under applicable regulations. The company is expected to publish a disclosure document for shareholders explaining the proposed method of capital reduction and its anticipated effects, sufficiently in advance of the extraordinary general assembly meeting to allow shareholders to vote. The authority noted that its approval should not be interpreted as an endorsement of the feasibility of the capital reduction and reflects only that the requirements of the Capital Market Law and its Implementing Regulations have been met.
Saudi Arabia Capital Markets Authority 2025-10-01
Saudi Arabia Capital Markets Authority approves Tabuk Agricultural Development Company’s capital reduction from SAR 391.8 million to SAR 184.4 million
The Saudi Arabia Capital Markets Authority approved Tabuk Agricultural Development Company's request to reduce its capital from SAR 391,767,000 to SAR 184,356,390, pending extraordinary general assembly approval and regulatory procedures. The company must publish a disclosure document detailing the capital reduction method and its effects before the assembly meeting. The authority clarified that its approval confirms compliance with the Capital Market Law and its Implementing Regulations, not the reduction's feasibility.