Riyadh — Mubasher: Tabuk Agricultural Development Company (TADCO) has cancelled its first and second extraordinary general meeting (EGM)sessions scheduled for 31 August 2026, due to the absence of a legal quorum.
The meetings, which were intended to discuss a change in the company's capital, were scheduled to take place at the company's project site in Tabuk and via the Tadawulaty platform.
The first session, scheduled for 6:30 PM, recorded an attendance rate of 18.63%, failing to reach the required 50% quorum of voting shares.
The second session, held at 7:30 PM, saw attendance reach 18.67%, which remained below the 25% threshold necessary for the meeting to proceed.
The company confirmed that the lack of quorum has no immediate impact on board recommendations regarding dividends, auditor duties, or capital changes.
TADCO stated it will issue a subsequent invitation for a third extraordinary general meeting after obtaining regulatory approval.
Under relevant regulations, the third meeting will be considered valid regardless of the number of shares represented.
