The National Agricultural Development Company (NADEC) announces the Board of Directors' recommendation for capital increase by offering rights Issue

Element List	Explanation
Introduction	In reference to Nadec's launch of its strategic plan to strengthen its leadership position in food markets at local and regional levels, and to expand its current business operations, develop new markets, expand its product range and enter into new ventures, Nadec aims to become a vertically integrated food company and targets to achieve a 6 billion Saudi Riyal of revenues by the year 2027. To achieve this, a comprehensive plan to enable Nadec to implement its strategic and operational objectives and support its future businesses.

Element List

Explanation

Introduction

In reference to Nadec's launch of its strategic plan to strengthen its leadership position in food markets at local and regional levels, and to expand its current business operations, develop new markets, expand its product range and enter into new ventures, Nadec aims to become a vertically integrated food company and targets to achieve a 6 billion Saudi Riyal of revenues by the year 2027. To achieve this, a comprehensive plan to enable Nadec to implement its strategic and operational objectives and support its future businesses.

The National Agricultural Development Company (NADEC) announces the Board of Directors' recommendation of capital increase by offering rights Issue. Date of Board Meeting 2023-04-03 Corresponding to 1444-09-12 Target Amount 2 billion Saudi riyals Reasons for the increase To enable the company to implement its strategic and operational plans and support its future businesses. Eligibility date The eligibility shall be for shareholders who own the shares on the day of the Extraordinary General Assembly, which approves to increase the capital by issuing the pre-emptive rights shares, and whose names appear in the issuer’s shareholders’ register at the Depository Center at the end of the second trading day following the date of the Assembly. Approvals Approvals of the relevant official authorities and the Extraordinary General Assembly. Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA Riyadh Capital has been appointed as financial advisors for the offering and to provide the advice on the capital increase and its restructuring and to prepare the relevant documents based on the regulations. An announcement will be made when the capital increase request’s file is submitted to the Capital Market Authority for approval.

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