JAZADCO receives initial ruling rejecting case against Tabuk Fisheries’ former board

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Jazan Energy and Development Co. (JAZADCO) received the initial ruling issued by  Riyadh Commercial Court, rejecting the case against the former board of directors of Tabuk Fisheries Co. (No. 1/350/ on 9-1-1433H), the firm said in a bourse statement today, Jan. 11.  

JAZADCO was notified on Sept. 24, 2020, by Al-Wasidi law office, the assigned office on the case, of receiving the initial ruling by the Commercial Court.

The company said follow-up on court procedures was among the reasons for the delay in announcement, adding that it submitted an appeal and objected to the ruling during the statutory period.

The company will announce any substantial update in a timely manner.