| Element List | Explanation |
|---|---|
| Announcement Detail | With reference to the approval of the Board of Directors of Tabuk Agricultural Development Company to sell part of its shareholding in Afaq Al-Ghitha Company amounting to (1,000,000) shares at a price not less than SAR (35) per share. |
Tabuk Agricultural Development Company announces that the sale transaction of (314,250) shares out of the total quantity approved for sale has been completed, with a total value of SAR (10,979,639) after deducting the administrative expenses of the executing party. The transaction was executed with multiple buyers through independent purchase offers.
The financial impact of these transactions will be reflected in the Company’s interim financial statements for the period ending 31 March 2026. The final financial impact resulting from the execution of these transactions is currently being calculated.
It is also worth noting that the book value per share of Horizon Food Co., according to the latest annual financial statements announced on 31 December 2024, amounts to SAR (38) per share.
This transaction comes as part of fulfilling one of the regulatory requirements related to the procedures for transferring Horizon Food Co., from Nomu – Parallel Market
to the Saudi Main Capital Market, in addition to supporting the liquidity position of Tabuk Agricultural Development Company and enhancing its financial flexibility in a manner that supports its future operational plans.
The Company will announce any material developments related to the sale of the remaining shares, amounting to (685,750) shares, in the event that additional significant sale transactions are executed, in accordance with the relevant laws and regulations.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.