JAZADCO announces decrease in its ownership percentage to 10% in associate company

Jazan Energy and Development Company (JAZADCO) announced on Thursday 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 SR20 million of its capital of SR100 million, where Tabuk Fish Company increased its capital by 100%, from SR100 million to SR200 million (from 10 million shares to 20 million shares at SR10 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 SR20 million.
Any material developments in this regard will be announced.