Thimar says some major shareholders request to dismiss 2 board members

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. received a letter from some shareholders owning more than 5% of capital requesting to hold an ordinary general meeting to vote on the dismissal of two non-executive board members, Ibrahim Al-Mayouf and Sari Al-Mayouf, according to a bourse statement.

The move comes as per Article 90 of the Companies Law.

The firm will take the necessary procedures according to the applicable rules and regulations, and will announce further developments later.