Board of Directors

Lebanon’s F&B Co. offers to buy Danah's 100% stake in Edafco
11:44 AM Danah receives $3.2m offers for stakes in Light Food, Edafco
Mubasher: Danah Al Safat Foodstuff announced receiving two offers to acquire its stakes in Light Food Company and Egyptian Dairy and Foodstuffs (Edafco). The Kuwaiti company has received a purchase offer from Alteco Company to buy its entire stake …
Raheja will replace Kevin Kwak
11:26 AM Dar Alarkan names new CEO
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company’s board of directors approved appointing Andy Raheja as the company’s new CEO starting from 4 June.  Raheja, who will replace Kevin Kwak, is currently the CFO of Dar Alarkan, according …
Bawan incurred a loss of SAR 218.35 million in FY18
10:50 AM Bawan to use SAR 89m statutory reserve to offset losses
Riyadh – Mubasher: The shareholders of Bawan Co. approved to use SAR 88.9 million worth statutory reserve to offset the accumulated losses that represent 13.5% of the company’s capital. Bawan’s shareholders agreed, during the ordinary general …
Al Deera is seeking to achieve positive results over the coming period
10:34 AM Al Deera in talks to capitalise KWD 12.4m debts – chairman
Mubasher: Al Deera Holding Co. is negotiating with its lenders to capitalise KWD 12.36 million in debts, the company’s chairman said. These deliberations are part of the firm’s strategy to reduce expenses and financial burdens, Al Jarida reported, …
KGL will ink new investment contracts with public and private sectors
22 May 02:33 PM KGL’s shareholders nod to KWD 1.39m bonus shares for FY18
Mubasher: Kuwait and Gulf Link Transport’s (KGL) shareholders approved the board’s proposal to distribute bonus shares at 5% of paid-up capital or 5-for-100 shares for the full fiscal year 2018 during a meeting held on Wednesday, 22 May. The total …
The company will pay total dividends of SAR 44 million
22 May 11:12 AM Walaa’s EGM approves 20% capital hike, dividends for FY18
Riyadh – Mubasher: The extraordinary general assembly (EGM) of Walaa Cooperative Insurance Company (Walaa) approved a 20% capital hike via issuing bonus shares during its meeting held on Tuesday, 21 May. The Kingdom-based company will raise its …
Losses increased by 557% to KWD 4.66 million in Q1-19
22 May 10:38 AM IFA to amortise $189m losses
Mubasher: International Financial Advisors’ (IFA) board of directors approved a proposal to amortise accumulated losses at a value of KWD 57.3 million ($189 million) during a meeting held on Tuesday. The loss amortisation will be carried out …
The company logged a net profit of EGP 75.1 million in 9M
21 May 12:02 PM General Company for Silos posts EGP 85m profit in 10M
Cairo – Mubasher: General Company for Silos and Storage reported a 4.4% year-on-year net profit growth during the first ten months of fiscal year 2018/2019, the company’s board of directors announced. Net profits amounted to EGP 85.24 million from …
Dividends will be distributed on 19 June
21 May 10:22 AM National International to pay 5 fils/shr dividends for FY18
Mubasher: National International Holding’s (NIH) ordinary general meeting (OGM) approved distributing a cash dividend of 5 fils per share to shareholders for the full fiscal year 2018 after excluding treasury stocks during a meeting held on …
Marseilia’s sales rose to EGP 140 million in Q1-19
19 May 03:21 PM Egypt’s FRA nods to Marseilia’s capital hike
Cairo – Mubasher: The Financial Regulatory Authority (FRA) has approved to publish the disclosure form of Marseilia Almasreia Alkhalegeya Real Estate Investment to proceed in its capital increase procedures. The disclosure form includes the board …
Amiantit will announce any further updates regarding the capital cut
19 May 11:42 AM Saudi Arabian Amiantit appoints financial advisor to cut capital
Riyadh – Mubasher: Saudi Arabian Amiantit Company approved the appointment of Wasatah Capital as the company’s new financial advisor to manage its capital reduction. Amiantit noted that it will announce any further updates regarding the capital …
The decision becomes effective starting from 19 May
19 May 09:34 AM SABB Takaful names Hussam Alkhayal as new CEO
Riyadh – Mubasher: The board of SABB Takaful Company approved the appointment of Hussam Alkhayal as the company’s new CEO. The decision becomes effective starting from Sunday, 19 May, according to a recent statement to the Saudi Stock Exchange …
CIB's capital will be increased by EGP 20 billion
16 May 04:10 PM Egypt’s FRA nods to CIB’s capital hike procedures
Cairo – Mubasher: The Financial Regulatory Authority (FRA) has approved to publish the disclosure form of Commercial International Bank (CIB) to proceed in its capital increase procedures.   The disclosure form includes the board of directors’ …
The loan repayment period has been extended to 2026
16 May 02:37 PM Maridive secures $196m finance
Cairo – Mubasher: Maridive and Oil Services announced that its board of directors had approved entering into a structural agreement worth $196 million to finance the existing credit facilities with several local banks under the management of Abu …
The capital increase shall become effective upon the merger becoming effective
16 May 10:38 AM SABB’s EGM approves merger with Alawwal bank, 37% capital raise
Riyadh – Mubasher: The extraordinary general meeting (EGM) of the Saudi British Bank (SABB) approved the proposed merger of SABB and Alawwal bank through the issuance of 0.48535396 new SABB shares for every share in Alawwal bank subject to the …
The newly approved business plan will enable Almarai to face future challenges
16 May 10:05 AM Almarai to invest SAR 7.1bn until 2024
Riyadh – Mubasher: Almarai Co said that its board of directors has approved the company’s five-year business plan during the period between 2020 and 2024 during its meeting held on Wednesday, 15 May. The company is to invest up to SAR 7.1 billion …
Losses recorded EGP 531.28 million in 9M
15 May 12:02 PM Hadisolb posts EGP 1.1bn revenues in 10M
Cairo – Mubasher: Egyptian Iron and Steel’s (HADISOLB) board of directors announced recording revenues of EGP 1.07 billion during the first 10 months of fiscal year 2018/2019. The Egyptian firm’s local sales and exports retreated to EGP 820.62 …
Total dividends amounted to EGP 80 million
14 May 02:46 PM B Investments to distribute EGP 0.50/shr dividends for 2018
Cairo – Mubasher: B Investments Holdings’ shareholders approved the board’s proposal for distributing a cash dividend of EGP 0.50 per share for 2018 during an ordinary general meeting (OGM). Total dividends amounted to EGP 80 million, according to …
Kuwait Foundry posted a decline of 77.4% in FY18 profits
14 May 11:10 AM Kuwait Foundry nods to 8 fils/shr dividend for FY18
Mubasher: The shareholders of Kuwait Foundry have approved, during the ordinary general meeting (OGM) on Monday, the board’s recommendation to distribute 8% of the capital as cash dividends for fiscal year 2018. Kuwait Foundry will pay 8 fils per …
Commercial Facilities achieved an increase of 13.9% in FY18 profits
14 May 10:37 AM Commercial Facilities to pay 17% dividend for FY18
Mubasher: The shareholders of Commercial Facilities on Monday have approved the board’s recommendation to distribute 17% of the capital as cash dividends for fiscal year 2018. The company, listed on Boursa Kuwait, will pay 17 fils per share on 2 …
Al Otaibi replaces Bader Al-Bader
13 May 01:19 PM Dur Hospitality names Sultan Al Otaibi as new CEO
Riyadh – Mubasher: Dur Hospitality Company on Monday revealed that the company’s board has approved the appointment of Sultan Al Otaibi as the new CEO. The decision will become effective starting from 1 July, the company said in a statement to the …
Leejam's board appointed Ali Hamad Alsagri as new chairman
13 May 12:53 PM Leejam Sports names new chairman, MD
Riyadh – Mubasher: The board of directors of Leejam Sports Company (Fitness Time) appointed Ali Hamad Alsagri as the non-executive chairman of the company during a meeting held on Sunday, 12 May. It also appointed Hamad Ali Al-Sagri as the …
This increase will be distributed over 11.6 million bonus shares
13 May 12:51 PM Mohandes Insurance nods to capital raise through bonus shares
Cairo – Mubasher: Mohandes Insurance on Monday announced that the company’s shareholders had approved raising its issued capital through public reserves and retained earnings during ordinary and extraordinary general meetings. The insurance firm’s …
Dividends will be distributed on Wednesday, 12 June
13 May 12:40 PM Leejam Sports to pay SAR 0.4/shr dividends for Q1
Riyadh – Mubasher: Leejam Sports Company’s (Fitness Time) board approved distributing cash dividends to the shareholders worth SAR 0.40 per share, representing 4.02% of the share’s nominal value, for the first quarter of 2019 during its meeting …
Dividends will be paid on 12 June
13 May 10:16 AM Tamdeen to distribute 10 fils/shr dividends for FY18
Mubasher: Tamdeen Real Estate Company’s shareholders approved the board’s proposal to distribute KWD 4.185 million at 10 fils per share as cash dividends for the full fiscal year of 2018 during a general assembly meeting held on Sunday. …