Al-Jouf Agricultural shareholders to vote on reducing nominal value to SAR 1 on Nov. 21

Logo of Al-Jouf Agricultural Development Co.

Shareholders of Al-Jouf Agricultural Development Co. will vote on reducing the stock's nominal value from SAR 10 to SAR 1 during the extraordinary general meeting (EGM) scheduled for Nov. 21, according to a Tadawul statement.

Nominal Value Reduction Details
Current Capital	SAR 300 mln
Number of Shares	30 mln
Stock Nominal Value	SAR 10
New Capital	SAR 300 mln
New Number of Shares	300 mln
Par Value After Stock Split	SAR 1

The company said that the decision, if approved, will be effective for shareholders who hold shares on the EGM date and are registered with the Securities Depository Center (Edaa) at the close of the second trading day following the EGM date.

The company said that the decision, if approved, will apply to shareholders who hold shares on the EGM date and are registered with the Securities Depository Center (Edaa) at the close of the second trading day following the EGM date.

Shareholders will also discuss amending Article No. 3 of the company’s bylaws related to corporate objectives, by adding the sale of agricultural waste, sale of agricultural, industrial and animal products, e-commerce, and lease of facilities. Other objectives include the company’s engagement in supplementary activities in the health, tourism, real estate and education sectors, the statement added.

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