TADCO rights subscription period ends today

Tabuk Agricultural Development Co.’s (TADCO) rights subscription period ends today, April 22, 2021.

The subscription period started on April 12, to increase the company’s capital from SAR 241.77 million to SAR 391.77 million through a rights issue of 15 million shares at SAR 10 per share.

Rights trading period, which also started on April 12, ended on Monday, April 19.

Key Figures of Capital Increase
Current capital	SAR 241.77 mln
Number of shares	24.17 mln
Increase (%)	62.04% (0.62 right for every existing share)
New capital	SAR 391.77 mln
New shares	39.17 mln
Rights Issue Details
Number of shares	15 mln
Issue price	SAR 10/share
Issue size	SAR 150 mln
Start of shares subscription and trading period	April 12, 2021
End of trading period	April 19, 2021
End of subscription period	April 22, 2021
Record date	April 6, 2021 (Shareholders registered with Securities Depository Center at the end of the second trading day following the EGM)
Use of proceeds	- To spend on operating and agricultural plan. (The agricultural plan includes planting wheat and fruits seeds. Operating plan consists of managing the agricultural process, including maintenance of equipment deployed for planting, harvest, irrigation and transport of crops.) - To repay debts and loans of the company and to acquire income-generating real estate business.

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