TADCO’s accumulated losses reach SAR 303.28 million
Tabuk Agricultural Development Co.’s (TADCO) accumulated losses reached SAR 303.28 million, accounting for 77.41% of capital, as per financial statements for 2025, the company said in a statement to Tadawul. 
The losses are mainly attributed to the recognition of impairment in biological assets, increased production and logistics costs, in addition to the provisioning for receivables.
The company is committed to implementing Article (132) of the Companies Law, as the board of directors will invite shareholders to hold an extraordinary general meeting (EGM) within 60 days from the date it became aware of the losses, no later than 30 May 2026.
The EGM must convene within 180 days from the date the board became aware of the losses (no later than Sep. 27, 2026) to discuss whether to continue operations while taking the necessary measures to address the losses or to dissolve the company.
The relevant procedures applicable to listed companies with accumulated losses reaching 20% or more of capital will be implemented.
The board of directors recommended initiating the required procedures and complying with applicable regulations related to companies whose accumulated losses exceed 20% of capital, particularly in terms of disclosure and protecting shareholders’ rights and interests.
In a separate Tadawul statement, the board recommended a 77.41% capital cut from SAR 391.77 million to SAR 88.48 million to offset accumulated losses, as detailed below:
Capital Reduction Details
Current Capital
SAR 391.77 mln
Number of Shares
39.18 mln
New Capital
SAR 88.48 mln
Number of Shares
8.84 mln
Percentage pf Reduction
77.41%
Method
Canceling 30.33 million shares; 0.7741 shares will be reduced for every 1 share held.
Reason
Capital restructuring to offset accumulated losses
Date
End of the second trading day following the extraordinary general meeting approving the capital reduction
TADCO’s accumulated losses reach SAR 303.28 million
Tabuk Agricultural Development Co.’s (TADCO) accumulated losses reached SAR 303.28 million, accounting for 77.41% of capital, as per financial statements for 2025, the company said in a statement to Tadawul.
The losses are mainly attributed to the recognition of impairment in biological assets, increased production and logistics costs, in addition to the provisioning for receivables.
The company is committed to implementing Article (132) of the Companies Law, as the board of directors will invite shareholders to hold an extraordinary general meeting (EGM) within 60 days from the date it became aware of the losses, no later than 30 May 2026.
The EGM must convene within 180 days from the date the board became aware of the losses (no later than Sep. 27, 2026) to discuss whether to continue operations while taking the necessary measures to address the losses or to dissolve the company.
The relevant procedures applicable to listed companies with accumulated losses reaching 20% or more of capital will be implemented.
The board of directors recommended initiating the required procedures and complying with applicable regulations related to companies whose accumulated losses exceed 20% of capital, particularly in terms of disclosure and protecting shareholders’ rights and interests.
In a separate Tadawul statement, the board recommended a 77.41% capital cut from SAR 391.77 million to SAR 88.48 million to offset accumulated losses, as detailed below:
Capital Reduction Details
Current Capital
SAR 391.77 mln
Number of Shares
39.18 mln
New Capital
SAR 88.48 mln
Number of Shares
8.84 mln
Percentage pf Reduction
77.41%
Method
Canceling 30.33 million shares; 0.7741 shares will be reduced for every 1 share held.
Reason
Capital restructuring to offset accumulated losses
Date
End of the second trading day following the extraordinary general meeting approving the capital reduction
