Riyadh – Mubasher: The board members of Tabuk Agricultural Development Company (TADCO) recommended decreasing the capital by 77.41%, based on the financial results for 2025, according to a bourse disclosure.
Subject to the approvals of the shareholders at the extraordinary general meeting (EGM) and other relevant regulatory authorities, the capital will shrink to SAR 88.48 million distributed over 8.84 million shares.
This is compared to SAR 391.76 million and 39.17 million shares prior to the capital cut transaction.
TADCO aims to restructure the capital to write off accumulated losses amounting to SAR 303.28 million. This step will be carried out by canceling 30.32 million shares, equivalent to canceling roughly 0.77 shares for each 1 existing share.
There will not be any material impact of capital reduction on the company’s obligations, operations, or its financial, operational, or regulatory performance.
The company said it is undertaking this procedure to safeguard the interests of the shareholders.
TADCO previously announced on 3 April 2025 that its accumulated losses had reached 52.9% of the capital, and an EGM was called to reduce the capital, which was held on 10 December 2025; however, the proposed reduction was not approved by the shareholders.
