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Board of Directors

The company’s capital stood at SAR 1.77 billion
17 July 05:37 PM Arriyadh Development’s board proposes SAR 71.1m dividends
Riyadh – Mubasher: The board of Arriyadh Development Company has recommended the distribution of SAR 71.11 million in cash dividends for the first six months of 2019, according to a bourse statement released on Wednesday. The proposed dividends …
The appointment is still pending approval by the Central Bank of Egypt (CBE)
17 July 04:57 PM NBK Egypt names new vice chairman
Cairo – Mubasher: National Bank of Kuwait-Egypt (NBK-Egypt) announced the appointment of Yasser Abd El-Koddous as the new vice chairman. Abd El-Koddous will succeed George Richani as his term of office came to an end, the lender said in a …
The company reported net profits of EGP 117.01 million
17 July 04:14 PM Egypt Free Shops’ board proposes EGP 99.9m dividends for FY18/19
Cairo – Mubasher: Egypt Free Shops announced that its board of directors recommended a cash dividend distribution of EGP 1.06 per share to shareholders for fiscal year 2018/2019. Total proposed dividends amounted to EGP 99.889 million for FY18/19, …
Ebtikar operates in non-banking financial sector
16 July 01:33 PM MM Group’s board nods to Ebtikar’s EGP 60m capital raise
Cairo – Mubasher: MM Group for Industry and International Trade’s board of directors has approved increasing its contribution to Ebtikar for Financial Investment’s capital by EGP 60 million. Accordingly, MM Group’s contribution to Ebtikar for …
The Egyptian firm reported a net profit of EGP 130.27 million in Q1
16 July 12:59 PM CI Capital approves setting up EGP 100m consumer durable firm
Cairo – Mubasher: CI Capital Holding’s board of directors has approved to proceed with the establishment of a company for selling consumer durable goods. The new company will be established with an authorised capital of EGP 100 million, according …
A prior meeting of Alafaco
14 July 01:42 PM Alafco to review Q3-19 financials early August
Mubasher: Alafco Aviation Lease and Finance Company will hold a board meeting on 1 August 2019 in order to discuss the financial statements for the third quarter ended 30 June 2019, according to the firm’ statement to Boursa Kuwait on Sunday. It …
The company’s issued capital will be increased to $188.1 million from $163.8 million
14 July 12:22 PM Maridive’s board nods to $37m stake acquisition offer
Cairo – Mubasher: Maridive and Oil Services announced that its board of directors has approved an offer worth $37 million from an UAE-based investor to acquire a stake in the company. Canadian investor Najjad Zeenni offered to subscribe to the …
The offering was oversubscribed by over 1.6x
9 July 09:46 PM Savola Group issues SAR 1bn sukuk
Riyadh – Mubasher: Savola Group on Tuesday announced that it had raised SAR 1 billion ($267 million) in sukuk, according to Reuters. Arranged by HSBC’s Saudi unit, the sukuk sales offered investors a profit rate equivalent to 160 basis points over …
Hisham Arafat will succeed Mansour Amer
9 July 10:54 AM Amer Group names new chairman
By: Ahmed Allam Cairo – Mubasher: Amer Group Holding’s board of directors has approved the appointment of Hisham Arafat as the company’s new chairman. Arafat will succeed Mansour Amer who submitted his resignation on Monday, the company said in a …
The company will pay a cash dividend of SAR 1 a share
9 July 10:31 AM eXtra reports 59% profit rise in Q2
Riyadh – Mubasher: United Electronic Company (eXtra) posted a 59% year-on-year profit hike during the second quarter of 2019. Net profits after zakat and tax amounted to SAR 72.5 million in Q2-19, compared to SAR 45.6 million in Q2-18, according …
Abdulaziz Bin Abdulla Al Zamil was appointed as the new chairman
7 July 02:56 PM Alinma Bank appoints new chairman, vice chairman
Riyadh – Mubasher: The ordinary general assembly meeting of Alinma Bank has elected a new board of directors for the three-year term ending 20 May 2022. The assembly has named Abdulaziz Bin Abdulla Al Zamil as the board’s new chairman, according …
Mubarak Al Khafrah was appointed as the board’s chairman
7 July 12:38 PM National Industrialization elects new board of directors
Riyadh – Mubasher: The extraordinary general assembly of National Industrialization Company has elected a new board of directors for the coming three years, ending 5 July 2022, during the meeting held on Saturday, 6 July. Accordingly, Mubarak …
Khalid Abdulaziz Abdul Rahman Almajed is the new chairman
7 July 12:27 PM Wafrah names new chairman, vice chairman
Riyadh – Mubasher: The ordinary general assembly meeting of Wafrah for Industry and Development Company has elected a new board of directors for the coming term ending 3 July 2022. The general assembly has appointed Khalid Abdulaziz Abdul Rahman …
The decision will become effective starting from Sunday, 7 July
7 July 11:36 AM Almarai names Georges P. Schorderet as new CEO
Riyadh – Mubasher: The board of directors of Almarai Co has appointed Georges P. Schorderet as the new CEO, replacing Alois Hofbauer, who resigned for personal reasons. The board has accepted the resignation of Alois Hofbauer on Saturday, 6 July, …
The Saudi-based lender will pay the dividends on 24 July.
7 July 09:59 AM Riyadh Bank to pay SAR 1.6m dividends for H1
Riyadh – Mubasher: The board of directors of Riyadh Bank approved distributing cash dividends worth SAR 1.56 million to shareholders for the first half of 2019. The bank will pay a cash dividend of SAR 0.52 a share after deduction of zakat, …
The lender will pay the dividends on 7 November.
4 July 04:39 PM Arab National Bank to pay 5% dividends for H1
Riyadh – Mubasher: The Arab National Bank’s (ANB) board of directors recommended to pay cash dividends worth SAR 750 million to shareholders for the first half of 2019. The bank will pay 5% of the share’s nominal value as a cash dividend, or SAR …
The decision aims at strengthening the company’s financial position
4 July 04:13 PM Alahli Takaful not to distribute dividends for FY18
Riyadh – Mubasher: The board of directors of Alahli Takaful Company recommended not to distribute cash dividends to shareholders for full-year 2018. The decision aims at strengthening the company’s financial position, according to the company’s …
Gerband Nijman will adopt a non-executive role
4 July 01:12 PM Global Telecom names new CEO
Cairo – Mubasher: Global Telecom Holding (GTH) announced the appointment of Gerband Nijman as the new CEO. Nijman, who will succeed Vincenzo Nesci, will adopt a non-executive role, the company said in a statement to the Egyptian Exchange (EGX) on …
Ali Abdulaziz Al Khodery was hired as the firm’s vice chairman
4 July 10:10 AM Arriyadh Development names new chairman
Riyadh – Mubasher: The extraordinary general assembly of Arriyadh Development Company has elected a new board of directors for the coming term ending 24 June 2022. Tariq bin Abdulaziz Al Faris has been appointed as the company’s chairman, …
The bank will pay a cash dividend of SAR 1 a share
3 July 04:52 PM Banque Saudi Fransi to pay SAR 1m dividends for H1
Riyadh – Mubasher: The board of directors of Banque Saudi Fransi (BSF) has proposed distributing cash dividends worth SAR 1.199 million to shareholders for the first half of 2019. The bank will pay a cash dividend of SAR 1 a share after the …
MESC appointed Abdul Aziz Mohamad Suleiman Al Namlah as the new chairman
3 July 10:49 AM MESC names new chairman, vice chairman
Riyadh – Mubasher: The general assembly of Middle East Specialized Cables Company (MESC) has agreed on electing a new board of directors for the coming three years during a meeting held on Tuesday, 2 June. The general assembly has appointed Abdul …
The issued capital will be raised by $73.366 million
2 July 05:21 PM Egypt’s FRA nods to Faisal Islamic Bank’s capital hike procedures
Cairo – Mubasher: The Financial Regulatory Authority (FRA) has approved to publish the disclosure form of Faisal Islamic Bank of Egypt to proceed in capital raise procedures.   The disclosure form includes the board of directors’ approval to …
IFC will receive the settlement amount by 2020
2 July 04:30 PM Qalaa’s board greenlights $14m settlement deal with IFC
By: Islam Fadl Cairo – Mubasher: The board of directors of Qalaa Holdings has approved a settlement deal worth $14 million with the International Finance Corporation (IFC), investor relations officer at Qalaa Holdings, Tamer Darwish, told …
Majid Abdulrahman Al Qasem was appointed as the deputy chairman
27 June 04:56 PM Dar Alarkan names Youssef Al Shelash as new chairman
Riyadh – Mubasher: The general assembly of Dar Alarkan Real Estate Development Company has elected a new board of directors for the coming three years during a meeting held on Thursday, 27 June. The company has appointed Youssef Abdullah Al …
EIPICO's net profits rose to EGP 218.31 million in Q1-19
26 June 02:20 PM EIPICO seeks to buy Egy Lease’s 9.77% stake in MUP
Cairo – Mubasher: Egyptian International Pharmaceutical Industries (EIPICO) announced that its board of directors has approved to purchase 4.78 million shares in Medical Union Pharmaceuticals (MUP). EIPICO aims to buy Egy Lease’s 9.77% stake in …