Jazan Energy and Development Company announces a decrease in its ownership in one of its associate companies (Tabuk Fish Company)

03/11/2022 Tadawul
ELEMENT LIST EXPLANATION
Announcement Detail Jazan Energy and Development Company (JAZADCO) announces a decrease in its ownership percentage due to not subscribing to the priority rights by increasing its capital in Tabuk Fish Company (a closed joint stock company), one of the associate companies in which JAZADCO owns 20%, representing 20 million Saudi riyals of its capital of 100 million Saudi riyals, where Tabuk Fish Company increased its capital by 100%, from 100 million Saudi riyals to 200 million Saudi riyals (from 10 million shares to 20 million shares at 10 riyals per share by adding 10 million shares).

 

 

Based on the above-mentioned, the ownership of JAZADCO becomes 10% instead of 20% after the capital is injected, with the same nominal value of 20 million Saudi riyals.

 

Any material developments in this regard will be announced.

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