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Al Mudon’s chariman submits resignation

Al Mudon’s chariman submits resignation
The announcement has no material impact on Al Mudon’s financial position
ALMUDON
ALMUDON
3.52% 20.60 0.70

Mubasher: Al Mudon International Real Estate announced that the company’s chairman, Mohammed Adel Al Fahad, has submitted his resignation.

Due to the current circumstances and the coronavirus consequences, the board of directors will meet later on to decide on the resignation of Al Fahad, according to a bourse statement on Thursday.

The announcement has no material impact on the company’s financial position.

It is noteworthy that in the first nine months of 2019, the company incurred losses of about KWD 81,530, up by 55.3% from around KWD 52,530 in the same period in 2018.