CMA sets up committee to manage Al-Mojil Group
The Capital Market Authority
Jeddah - Arab Today
The Capital Market Authority (CMA) has set up an interim committee to manage Mohammad Al-Mojil Group (MMG) after the board’s resignation earlier this month, the regulator said in a statement.
The interim board will be authorized to call for a general assembly meeting to elect a new board of director within three months of Nov. 28, the official date of appointment.
The CMA board comprises Abdullah bin Jasser Almadhy (chairman), Mohammed bin Rashed Alhazani (vice chairman) and Saleh bin Hamad Alshunaifi (member).
The contractor’s board resigned on Nov. 19 due to its inability to clear the current bottlenecks.
MMG has not traded on the Saudi bourse since July 2012.
Source: Arab News
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