In a recent announcement, Al-Jouf Agricultural Development Co. revealed the recommendation made by its board of directors to the Extraordinary General Assembly. This recommendation, issued through a resolution by circulation on February 20, 1445 AH (corresponding to September 5, 2023 AD), proposes a significant change in the nominal value of the company's shares. The board of directors has suggested a split from the current value of (10) Saudi riyals per share to a new value of (1) Saudi riyal per share. In a significant development, the company has announced an amendment that will result in a substantial increase in the number of its shares. The current count of 30,000,000 shares is set to be multiplied tenfold, reaching an impressive 300,000,000 shares. This commitment by the company is accompanied by a promise to diligently carry out all the requisite procedures to ensure a smooth transition.
