Tabuk Agricultural issues land ownership sukuk

With reference to the announcement published on the Tadawul website on 18/09/1441 AH corresponding to 11/05/2020 AD that the company had received it from the Ministry of Environment, Water and Agriculture on 17/09/1441 AH corresponding to 10/05/2020 AD Ownership Decision Tabuk Agricultural Development Company Agricultural land (the first site) with an area of 212487,310 Dounum (two hundred and twelve million four hundred and eighty-seven thousand three hundred and ten square meters) and (the second site) with an area of 2259,580 Dounum (two million two hundred and fifty-nine thousand five hundred and eighty square meters) . And that the decision of the Ministry of Environment, Water and Agriculture required the approval of the Supreme Court for the above decision to be considered effective.

Accordingly, the company announces the issuance of the following:

1) Ratification by the Ministry of Justice on 05/04/1444H – Instrument No. 350105014859 on the decision of the Ministry of Environment, Water and Agriculture No.: 1440/1057/693167 dated 17/09/1441 AH: The Tabuk Agricultural Development Company owned plot No. (1) of the land located 53 KM north of Tabuk, west of the railway and asphalt Tabuk – Halat Ammar- TABUK, whose area is 212487,310 Dounum (Two hundred and twelve million four hundred and eighty-seven thousand three hundred and ten square meters).

The land became the property of the Tabuk Agricultural Development Company.

2- Ratification by the Ministry of Justice on 05/04/1444H, Instrument No. 950106011005 on the decision of the Ministry of Environment, Water and Agriculture No.: 1440/1057/693167 dated 17/09/1441 AH: Tabuk Agricultural Development Company owns plot No. (2) of the land located 53 KM away North of Tabuk, east of the railway, and west of Tabuk Asphalt – Halat Ammar- TABUK, which has an area of 2259,580 Dounum (two million two hundred and fifty-nine thousand five hundred and eighty square meters).

The land became the property of the Tabuk Agricultural Development Company.

The financial impact of receiving the instrument will be determined later in accordance with the approved accounting standardso