Correction announcement from Tabuk Agricultural Development Co. in regards to its Announces an update on Announcement by Tabuk Agricultural Development Company regarding the sale of part of its investment in Horizon Food Co
| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2026-03-26 Corresponding to 1447-10-07 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | Latest Developments Of The Announced Event: The Company announces that it has sold (228,500) shares from its investment in Horizon Food Company at a price of SAR (35) per share, with a total value of SAR (7,997,500) (before deducting transaction-related expenses). The transaction was executed with multiple buyers through independent purchase orders. The Company clarifies that this transaction is a continuation of the previously announced plan to sell part of its investment in Horizon Food Company, as part of its strategy to sell up to (1,000,000) shares, with the objective of enhancing liquidity and supporting its operational and agricultural plans. The costs associated with the event, and if they have changed or not with indication of the reasons.: It is expected that this transaction will result in an accounting (book) loss amounting to SAR (685,500), representing the difference between the selling price and the book value of the investment, which amounts to SAR (38) per share, based on the latest announced annual financial statements for the year ended 2024. The financial impact of this transaction will be reflected in the Company’s interim financial statements for the period ending 31 March 2026. |
| Correct Statement | Latest Developments Of The Announced Event: The Company announces that it has sold (228,500) shares from its investment in Horizon Food Company at a price of SAR (35) per share, with a total value of SAR (7,997,500) (before deducting transaction-related expenses). The transaction was executed with multiple buyers through independent purchase orders. The Company clarifies that this transaction is a continuation of the previously announced plan to sell part of its investment in Horizon Food Company, as part of its strategy to sell up to (1,000,000) shares, with the objective of enhancing liquidity and supporting its operational and agricultural plans. The costs associated with the event, and if they have changed or not with indication of the reasons.: It is expected that this transaction will result in a loss amounting to SAR (685,500), representing the difference between the selling price and the book value of the investment, which amounts to SAR (38) per share, based on the latest announced annual financial statements for the year ended 2024. The financial impact of this transaction will be reflected in the Company’s interim financial statements for the period ending 31 March 2026. |
| Additional Information | The correction is limited to the phrase (accounting (book) loss) only, with no other changes to the content of the announcement. |
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