TADCO to compensate rights issue owners for unsubscribed shares

Logo of TADCO

Tabuk Agricultural Development Co. (TADCO) announced today, May 30, 2021, the start of distribution of compensation to rights issue owners who did not use their rights to subscribe to new shares, the firm said in a bourse filing.

The total amount to be distributed stands at approximately SAR 34.8 million.

TADCO will deposit the amount in the bank accounts of eligible investors who have not exercised their right to subscribe to new shares and those entitled to fractional shares.

As for the eligible investors whose bank account details are not available or incomplete, they can visit the head office of the company or contact investor relations department on phone number: 0144500000 or email: magdy.abdellatef@tadco-agri.com.

In April, TADCO shareholders approved the board’s recommendation on capital hike from SAR 241.77 million to SAR 391.77 million through a SAR 150 million rights issue, Argaam reported.