A limited liability company (referred to as "the company") with a specified capital of 5,000,000 Saudi riyals is to be established in the Kingdom of Saudi Arabia for the production and breeding of potato seeds. This is in response to the company's announcement, which was published on the Tadawul website on Tuesday, 07/9/1444H, which corresponds to January 31, 2023G. The percentages of ownership for each party are established, with NADEC owning 51% of the capital of the company. The possibility of adding a foreign technical shareholder is also taken into consideration; their stake would be acquired through the shares of the Leha Agricultural Production Company, in accordance with the upcoming agreement. The National Agricultural Development Company (NADEC) is pleased to inform its esteemed shareholders that the processes for forming a limited liability company with a focus on the production and propagation of potato seeds in the Kingdom of Saudi Arabia (referred to as "the Company") were successfully completed. The business is known as the National Seeds Production Company, and stockholders own it.
Aside from that, NADEC is pleased to announce the signing of an amendment to the current shareholders' agreement (for the entry of a new shareholder) with Leha Agricultural Production Company and HZPC Holland B.V., "the new foreign technical shareholder," by purchasing the shares of Leha Agricultural Production Company, as stipulated in the concluded agreement.
