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Board of Directors

The CEO resignation will be effective as of 28 March 2021.
2 hours ago stc announces CEO resignation; completes share buyback at SAR 300m
Riyadh – Mubasher: Saudi Telecom Company’s (stc) Board of Directors accepted the resignation of the company’s CEO, Nasser S. Alnasser, on 28 November 2020, which was submitted for personal reasons. The resignation will be effective as of 28 March …
The increase is distributed over 10 million shares
26 November 12:28 PM Egyptians for Investment board nods to EGP 10m capital raise
Cairo – Mubasher: The board of Egyptians for Investment and Urban Development Company has approved the issued and paid-up capital raise by EGP 10 million to EGP 50 million from EGP 40 million. The increase is distributed over 10 million shares …
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25 November 03:49 PM Al Rajhi Bank names new chairman, vice chairman
Riyadh – Mubasher: Al Rajhi Bank’s elected Board of Directors approved appointing Abdullah bin Sulaiman Al Rajhi as the Chairman of the board for the new three-year term that started on 14 November 2020. The board also named Ibrahim bin Mohammed …
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25 November 12:28 PM Speed Medical to set up new firm; rejects share exchange with City Lab
Cairo – Mubasher: The Board of Directors of Speed Medical Company approved the establishment of Speed for Medial Facilities Management Company with a 50% contribution from the company’s shares in a bid to manage hospitals, clinics, and medical …
The deals are likely to reflect positively on Saudi Re’s financials starting from 2021.
24 November 03:52 PM Saudi Re inks reinsurance deals with Probitas Corporate Capital
Riyadh – Mubasher: Saudi Re for Cooperative Reinsurance Company on Tuesday signed reinsurance contracts with Probitas Corporate Capital Ltd for one year effective from 1 January 2021. Total gross written premiums (GWP) from the contracts are …
The board plans to expand its investment portfolio
24 November 02:39 PM Aman's board agrees on three-year growth plan
Dubai – Mubasher: The board of Dubai Islamic Insurance and Reinsurance Company (Aman) has approved a three-year growth plan to strengthen the company's financial position by focusing on operational expansion and investment performance. Under the …
Mohamed Abbady was named Managing Director of RSNCRP
23 November 05:22 PM Mohamed Sheta named Chairman of AMOC
Cairo – Mubasher: Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, announced several appointments in the petroleum sector. El-Molla appointed Mohamed Mostafa Sayed Ahmed Sheta as the Chairman and Managing Director of Alexandria …
SAFCO's new capital will total SAR 4.760 billion.
19 November 10:43 AM SAFCO EGM approves capital hike to acquire SABIC’s unit
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudi Arabian Fertilizer Company (SAFCO) approved the board’s recommendation to increase the company’s capital to acquire SABIC Agri-Nutrients Investment Company(SANIC), fully-owned by …
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19 November 10:25 AM SADAFCO EGM approves buying back 2.7m treasury shares
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudia Dairy and Foodstuff Company (SADAFCO) approved to purchase up to 2.749 million company shares to be used as treasury shares. The step comes as the board of directors believes …
Shaker Group Head Office - Riyadh
18 November 04:13 PM Shaker Group appoints acting CEO
Riyadh - Mubasher: The board of Al Hassan Ghazi Ibrahim Shaker Co has approved by circulation not to renew the contract of Azzam Saud Almudaiheem as the company’s CEO as of 18 November 2020, based on his request. The step comes as Almudaiheem …
The board has elected the members of the Audit Committee
18 November 09:53 AM Amanat Holdings reelects Hamad Alshamsi as Chairman
Dubai – Mubasher: The board of Amanat Holdings has elected Hamad Abdulla Alshamsi as Chairman and Shamsheer Vayalil as Vice Chairman and Managing Director. During a meeting held on Tuesday, 17 November, the board has also elected the members of …
Al Issa has been one of the members of Almarai's board
17 November 11:49 AM Almarai appoints new managing director; CEO resigns
Riyadh – Mubasher: The board of Almarai Company has decided to appoint Bader Abdullah Al Issa as a managing director, according to the company's disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday. This decision came after the board had …
The Saudi Capital Market Authority (CMA).
12 November 09:17 AM Naseej International submits capital cut request to CMA
Riyadh – Mubasher: Naseej International Trading Company on 11 November submitted a request to the Saudi Capital Market Authority (CMA) for a SAR 116.527 million capital reduction. The company said it will announce further relevant details in due …
The group’s profits grew by 23.6% YoY in the first nine months of 2020.
11 November 09:24 AM Fitaihi Holding quarterly profits surge; dividends proposed
Riyadh – Mubasher: Fitaihi Holding Group’s third-quarter net earnings surged by 1,645% on a year-on-year (YoY) basis to SAR 38.1 million, compared with SAR 2.2 million last year. Revenue for the quarter ended on 30 September 2020 climbed by 200.5% …
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10 November 10:19 AM SIEC board recommends SAR 129m capital increase
Riyadh – Mubasher: The Saudi Industrial Export Company’s (SIEC) Board of Directors on 9 November 2020 proposed increasing the company’s capital by SAR 129.6 million via a rights issue. The capital raise will support the company’s future expansion …
The unit's capital will be increased to MAD 582.161 million from MAD 470 million.
10 November 10:06 AM SPIMACO’s Morocco affiliate approves capital raise
Riyadh - Mubasher: The Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) said the extraordinary assembly of its 70.65%-owned subsidiary, SPIMACO Morocco for Pharmaceutical Industries, approved increasing the company’s capital …
The group has generated revenues of AED 30.82bn in 9M
10 November 09:51 AM TAQA reports lower profits in 9M; dividends proposed
Abu Dhabi – Mubasher: The net profits attributable to the equity holders of Abu Dhabi National Energy Company (TAQA) decreased to AED 2.21 billion in the first nine months of 2020 from AED 2.67 billion in the same period of 2019. The group has …
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9 November 12:25 PM Al Yamamah Steel reappoints Youssef Bazaid as CEO
Riyadh – Mubasher: The Board of Directors of Al Yamamah Steel Industries Company approved reappointing Youssef Saeed Bazaid as the company’s CEO. The appointment shall be effective starting as of 15 November 2020, according to a bourse statement …
The dividends' distribution date will be announced later on.
8 November 09:15 AM City Cement proposes SAR140m dividends for H1
Riyadh – Mubasher: The Board of Directors of City Cement Company recommended distributing cash dividends of SAR 140 million to shareholders for the first half (H1) of 2020. The proposed amount represents 10% of the share’s par value and SAR 1 per …
The distributions will be paid on 18 November.
4 November 09:51 AM Jarir Marketing proposes SAR 252m dividends for Q3
Riyadh- Mubasher: Jarir Marketing Company’s board recommended distributing cash dividends of SAR 252 million to shareholders for the third quarter (Q3) of 2020. This represents 21% of the share’s nominal value or SAR 2.10 per share, according to a …
The capital will be reduced by cancelling 20.7 million shares
28 October 11:18 AM Alhokair Group's board recommends 38% capital cut
Riyadh – Mubasher: The board of Abdulmohsen Alhokair Group for Tourism and Development Company has recommended to decrease the company's capital by 37.64% to SAR 343 million from SAR 550 million. The capital will be reduced by cancelling 20.7 …
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28 October 08:40 AM Chubb Arabia, AlAhli Takaful discontinue merger discussions
Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company and AlAhli Takaful Company (ATC) announced they agreed to end and discontinue merger discussions. The announcement has no material impact of the financial statements of the two …
The bank reported net profits of EGP 4.997 billion in six months
26 October 11:06 AM CIB announces changes in board of directors
Cairo – Mubasher: The Commercial International Bank – Egypt (CIB) announced the new board of directors headed by Sherif Samy as a Non-Executive Chairman. The bank said that Hisham Ezz El-Arab resigned from his position as a Chairman and Managing …
The project is predicted to have a positive impact on Al-Andalus Mall and the fund.
26 October 09:51 AM AlAhli REIT Fund 1 buys land plot for SAR 43.5m
Riyadh – Mubasher: NCB Capital, manager of AlAhli REIT Fund 1, said that the fund’s Board of Directors approved commencing the project to develop and expand Al-Andalus Mall, one of the fund’s properties. The expansion will be carried out by adding …
The new number of issued shares will amount to 140 million.
26 October 09:15 AM City Cement says creditor objection period ended, capital cut comes into effect
Riyadh – Mubasher: City Cement Company said that the creditor objection period to reduce the company’s capital by 26% to SAR 1.4 billion from SAR 1.89 billion has expired on 25 October 2020 and that no objection was received from the creditors …