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Announcement by Almunajem Foods Company its intention to enter as a strategic investor in Al Jouf Agricultural Development company
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| Announcement Detail | Almunajem Foods Company announces to its valued shareholders that, in line with its strategy aimed at achieving continuous growth and strengthening its position within the food sector, it has, today , Monday, January 19, 2026, initiated 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. This initiative forms part of Almunajem Foods Company’s efforts to enhance integration across the food value chain and to evaluate investment opportunities that are consistent with its long-term objectives, support food security, diversify growth sources, and create added value for its shareholders. The Company emphasizes that this matter is still at a preliminary stage, and that the completion of any potential transaction will be subject to obtaining all necessary regulatory approvals, including approvals from the relevant official authorities, as well as the completion of the required internal procedures by both parties. Almunajem Foods Company will announce any material developments in this regard in due course, in accordance with the applicable rules and regulations issued by the Capital Market Authority. May Allah grant success. |
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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