Tabuk Agricultural Development Co.’s (TADCO) shareholders are set to vote on a capital hike through a SAR 150 million rights issue, during the extraordinary general meeting (EGM) scheduled for March 9, 2021.
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Key Figures of the Capital Hike |
|
|
Current capital |
SAR 241.77 mln |
|
Number of shares |
24.18 mln shares |
|
New capital |
SAR 391.77 mln |
|
New shares |
39.18 mln |
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Use of proceeds |
To spend on operating and agricultural plan |
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Record date |
The second trading day following the EGM |
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Method of increase |
Offering and listing 15 mln ordinary shares |
In addition, shareholders will also vote on the board’s decision to appoint Khalid Abdulrahman Ali AlKhudairi (independent member) to the board of directors, starting Dec. 14, 2020 until June 30, 2021, in place of Mohammad AbduAllah Abdul Aziz Al-Rajhi (non-executive member).
Shareholders registered in the Tadawulaty services will be able to vote remotely on the assembly’s articles starting March 5, 2021.
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