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Board of Directors

The board recommended raising the company’s capital to SAR 25 million
11:02 AM Al Samaani recommends 66.7% capital hike, 5% dividends
Riyadh – Mubasher: Al Samaani Factory for Metal Industries Company announced on Thursday that its board of directors has recommended increasing capital through the distribution of bonus shares. The 66.67% hike will raise the company’s capital from …
Fawry’s net profit hiked to EGP 76.25 million in nine months
20 November 06:11 PM Fawry’s board approves doubling subsidiary’s capital
Cairo – Mubasher: The board of directors of Fawry for Banking Technology and Electronic Payments approved to increase the capital of its 99.85%-owned subsidiary Fawry Microfinance Co to EGP 15 million from EGP 7.5 million. Fawry’s share in the …
The Annual Audit Plan for 2020 was approved
20 November 12:05 PM Dana Gas comments on Egypt, UAE, Kurdistan's operations
Abu Dhabi – Mubasher: The status of Dana Gas’ operations in the UAE, Egypt, and the Kurdistan Region of Iraq have seen a tangible improvement in the collection of outstanding receivables in Egypt as well as Kurdistan Region of Iraq. The firm’s …
The board recommended an ordinary general meeting
19 November 04:32 PM Injazzat Real Estate’s CEO resigns
Mubasher: Injazzat Real Estate Development’s board has accepted the resignation of the company’s CEO Faisal Fahad Al-Shaya, according to a bourse statement released on Tuesday. The board recommended an ordinary general meeting for the election of …
Gros will also be a member of the Renault Management Committee
19 November 02:17 PM Renault names SVR for communications, public affairs
Mubasher: Groupe Renault announced that Catherine Gros will be appointed as senior vice president for communications, public affairs, and social and sustainable impact as of 17 December.  The French automotive manufacturer revealed that Gros will …
The cement producer logged a net profit of EGP 231.6 million in 2018
19 November 01:30 PM Arabian Cement Co’s board proposes EGP 0.47/shr dividend for 2018
Cairo – Mubasher: The board of directors of Arabian Cement Co. recommended a cash dividend distribution of EGP 0.47 per share for earnings of 2018. The board proposed to distribute a total cash dividend of EGP 178 million to shareholders for the …
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17 November 01:05 PM Saudi Aramco excludes board members from IPO eligibility
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has issued some amendments to the guidelines of its initial public offering (IPO). The company has excluded board members from the eligibility to participate in the IPOs, only senior …
Al-Sudairi was SEC's CFO and Acting CEO
13 November 10:38 AM Saudi Electricity appoints new CEO
Riyadh – Mubasher: Saudi Electricity Company (SEC) has announced the appointment of Fahad bin Hussein Al-Sudairi as CEO. The company’s board of directors decided on the appointment on Tuesday 12 November, with the decision being effective starting …
The company incurred net losses of EGP 153.4 million in H1
12 November 05:28 PM Orascom Investment Holding names COO of Orascom Telecom Lebanon
Cairo – Mubasher: Orascom Investment Holding (OIH) announced the appointment of Hisham Siblini as chief operating officer (COO) for its Lebanese unit, Orascom Telecom Lebanon, and its managed operation in Lebanon's Mobile Interim Company 1 …
The Board of Directors approved quarterly financial statements
12 November 02:14 PM Salbookh Trading board resigns
Mubasher: Salbookh Trading announced that its board of directors has approved the company’s financial statements for the first nine months of the year during a meeting on Monday. The board has submitted its resignation and called for a general …
Tareq Osman Al Qasabi is the new chairman
12 November 10:55 AM Dallah Healthcare names new chairman, vice chairman
Riyadh – Mubasher: The board of directors of Dallah Healthcare Company has appointed Tareq Osman Al Qasabi as the company’s new chairman. Muhei Addein Saleh Abdullah Mohamed Kamel was hired as the vice-chairman of the company, according to a …
The company will pay SAR 1.5 per share
12 November 10:47 AM Abdullah Al Othaim to pay SAR 135m dividends for 9M
Riyadh – Mubasher: The board of directors of Abdullah Al Othaim Markets Company has approved distributing cash dividends worth SAR 135 million for the first nine months of 2019. The company will pay SAR 1.5 per share, or 15%, according to a bourse …
Accumulated losses reached
11 November 12:24 PM Saudi Amiantit cuts accumulated losses to 1.4% of capital
Riyadh – Mubasher: Saudi Arabian Amiantit Company announced on Monday that its accumulated losses to capital ratio dropped to 1.4% by the end of the third quarter (Q3) of 2019 to reach SAR 5 million, according to a statement to the Saudi Stock …
Arzan aims to diversify the assets that will be transferred to the new subsidiary
11 November 12:23 PM Arzan reveals motives behind capital cut - Report
By: Mohamed Farouk Mubasher: Arzan Financial Group for Financing and Investment has released on Monday a disclosure to Boursa Kuwait on the goals of its capital cut. The first goal is to separate current non-strategic long-term low-yield …
Net losses reached SAR 56.35 million in Q3-19
11 November 11:32 AM Tabuk Agricultural widen losses in Q3, board proposes capital cut
Riyadh – Mubasher: The initial financial statements of Tabuk Agricultural Development Company indicated a 650.55% year-on-year rise in net losses over the third quarter (Q3) of 2019. Net losses reached SAR 56.35 million in Q3-19 when compared to …
The financial impact regarding opening the new branches will be announced later
10 November 02:11 PM SIEC to expand footprint in UAE, Sudan
Riyadh – Mubasher: The board of directors of the Saudi Industrial Export Company (SIEC) has approved opening two new branches in the UAE and Sudan. The company aims to meet its customers’ needs in the African and Asian markets, according to the …
The action is pending approval from the general assembly and regulator
10 November 11:31 AM NADEC recommends 20% capital increase
Riyadh – Mubasher:  The board of directors of the National Agricultural Development Company (NADEC) has recommended a 20% capital rise through bonus shares. The company’s capital will be SAR 1.01 billion instead of SAR 847 million, according to a …
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10 November 10:52 AM Arzan Group board approves capital cut
Mubasher: The board of Arzan Financial Group for Financing and Investment has approved on Thursday reducing the company’s capital, according to a bourse filing. The board has approved the asset evaluation and recommended to the company’s general …
The appointment was effective on  5 November
6 November 10:42 AM Ooredoo Group names new CEO in Tunisia
Abu Dhabi – Mubasher: Ooredoo Group, the dual-listed company on Qatar Stock Exchange and the Abu Dhabi Securities Exchange (ADX), has appointed Mansoor Rashid Al Khater as a new CEO of Ooredoo Tunisia, succeeding Youssef Al Masri. The appointment …
The company’s capital stands at EGP 909 million
5 November 06:19 PM Suez Canal Technology proposes EGP 2.5/shr dividend for FY18/19
Cairo – Mubasher: The board of directors of Suez Canal Company for Technology Settling recommended a cash dividend distribution of EGP 2.5 per share for fiscal year 2018/2019. Dividends will be distributed over two payments: EGP 45.45 million and …
The board also approved a management contract with a subsidiary
5 November 05:14 PM Cairo Educational Services’ board proposes 80 piastres per-share dividends
Cairo – Mubasher: Cairo Educational Services’ board has recommended the distribution of EGP 0.8 per share in cash dividends for the fiscal year ended 31 August 2019. The board also approved a management contract with a subsidiary, according to a …
The capital cut will be financed through the company’s internal resources and loans
5 November 01:05 PM City Cement’s board recommends capital reduction by 26%
Riyadh – Mubasher: The board of directors of City Cement Company recommended 26% capital reduction to SAR 1.4 billion from SAR 1.89 billion through share cancellation. The capital cut will be financed through the company’s internal resources and …
The company’s capital will be SAR 92 million
5 November 12:56 PM Saudi Paper approved 42.45% capital cut
Riyadh – Mubasher: The extraordinary general assembly of the Saudi Paper Manufacturing Company has approved the recommendation of reducing the company’s capital by 62.45%. The company’s capital will be SAR 92 million instead of SAR 245 million, …
Walid bin Abdullah Al-Moqbel will replace Stefano Bertamini starting from 1 January 2020
5 November 10:03 AM Al Rajhi Bank appoints new CEO
Riyadh - Mubasher: Al Rajhi Banking and Investment Corporation (Al Rajhi Bank) has announced the official appointment of Walid bin Abdullah Al-Moqbel as its new CEO. The appointment, which will come into effect starting from the beginning of …
Naguib Sawiris will succeed El-Mahdi as the new CEO
4 November 01:18 PM Sawiris assumes CEO post at Orascom Investment Holding
Cairo – Mubasher: The board of directors of Orascom Investment Holding (OIH) approved the resignation of its CEO Tamer El-Mahdi, which will be effective as of 31 December. The company’s executive chairman Naguib Sawiris will succeed El-Mahdi as …