Jazan Development and Investment Co. announces the issuance of the approval of the Ministry of Commerce to publish the decision of the partners of the Advanced Aquaculture Company to terminate the company
| Element List | Explanation |
|---|---|
| Previous Announcement | sign a memorandum of understanding with the Tabuk Fish Company, the Tharawst Seas Company, and the Aquaculture Sharq Farms Company |
| Date of Previous Announcement on Saudi Exchange’s Website | 2020-07-13 Corresponding to 1441-11-22 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Jazan Development and Investment Company announces the issuance of the approval of the Ministry of Commerce on 11-07-1445 corresponding to 23-01-2024 approving the publication of the decision of the partners of the Advanced Aquaculture Company to terminate the company and delete the commercial register on 05-07-1445 corresponding to 17-01-2024 and to take all necessary measures for this purpose because the company does not practice any activity or work since its inception and the purpose of establishing the company is no longer to merge into one entity, negotiate with investors (local or foreign), and study opportunities to obtain financing from government development funds or any method. Others to be agreed to cooperate and progress on the integration plan.
Note that the company's capital is SAR 100,000 and Jazan Development and Investment Company shareholding is 25% of the company and there is no financial impact from the liquidation.
The Company will also announce any developments in this regard in due course (if any). |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not Applicable |
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