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Almunajem Foods Co. Announces an update on Announcement by Almunajem Foods Company its intention to enter as a strategic investor in Al Jouf Agricultural Development Company
| Element List | Explanation |
|---|---|
| Introduction | With reference to Almunajem Foods Company's announcement published on Tadawul on January 19, 2026, regarding its communication with Al-Jouf Agricultural Development Company to enter into preliminary, non-binding discussions to explore the possibility of Almunajem Foods Company becoming a strategic investor. These discussions relate to the potential acquisition of a minority stake in Al-Jouf Agricultural Development Company through a capital increase, with the suspension of preemptive rights for existing shareholders in accordance with Article 129 of the Companies Law. Under the proposed arrangement, Almunajem Foods Company would subscribe to new shares at a price of SAR 52.5 per share |
| Previous Announcement | Announcement by Almunajem Foods Company its intention to enter as a strategic investor in Al Jouf Agricultural Development Company |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-01-19 Corresponding to 1447-07-30 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Almunajem Foods Company announces that it has received a consent letter from Al-Jouf Agricultural Development Company dated at 1st February 2026 , to enter into preliminary, non-binding discussions to explore the possibility of Almunajem Foods Company becoming a strategic investor in Al-Jouf Agricultural Development Company. This would be achieved through the acquisition of a minority stake in Al-Jouf Agricultural Development Company via capital increase, with the suspension of preemptive rights for existing shareholders. The subscription price for Almunajem Foods Company would be SAR 52.5 per share, subject to the fulfillment of the following conditions: 1- The capital increase must not exceed 15% of the total capital of Al-Jouf Agricultural Development Company. 2- A binding contract or contracts must be signed, including due diligence. 3- Approval must be obtained from the Extraordinary General Assembly and all other regulatory approvals required from any relevant authority |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | Accordingly, Almunajem Foods Company will proceed to take the necessary actions to move forward with this potential investment. |
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.
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Company Performance
Key Parameters
Last Price 52.35
Net Change -0.55 (-1.04%)
Value Traded (Sar) 8,509,357.15
Volume Traded 161,357
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