Abu Dhabi – Mubasher: Abu Dhabi Aviation Co, listed on the Abu Dhabi Securities Exchange (ADX), announced that its board of directors has approved that foreign investors shall not own more than 30% of the company’s nominal shares.

This came as a result of the company’s general meeting that was held on Sunday, 13 October 2019, according to a bourse filing on Monday.

It is worth noting that only UAE nationals had the right to own nominal shares in Abu Dhabi Aviation.

The general assembly has also agreed to amend some of the articles of the company’s Article of Association, the filing added.

In July, Abu Dhabi Aviation revealed it had recorded a net profit of AED 29.54 million for the first half of 2019, falling by 26.41% from AED 40.14 million in the year-ago period.