TADCO shareholders to vote on changing aspects of spending capital hike proceeds on Feb. 14

17/01/2022 Argaam

Logo of Tabuk Agricultural Development Co. (TADCO)

Tabuk Agricultural Development Co.’s (TADCO) shareholders are set to vote on changing the aspects of spending capital hike proceeds, during the ordinary general assembly meeting (OGM) that will be held on Feb. 14, the company said in a bourse statement.

 

Shareholders will vote on redirecting SAR 47 million allocated for the acquisition of income-generating real estate businesses to spending on operational and investment activities for the company.

 

Meanwhile, they will vote on increasing the number of audit committee seats from three to five seats. Accordingly, the number of audit committee members will become five members, by appointing Al-Mutasembilla Allam (non-executive) and Majid Ahmed Al Suwaigh (independent) as a members of audit committee starting from the date of the assembly's approval until the end of the current committee’s term on June 30, 2024.

 

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