Baazeem shareholders to vote on selling assets in Yemen

13/12/2017 Argaam

Baazeem Trading Co. (Baazeem) has invited its shareholders to attend the general assembly meeting on Dec. 25, 2017, to vote on selling some of company’s assets in Yemen to the company’s chairman, Salem Baazeem, for SAR 3.8 million.

 

The related-party transactions include selling the company’s stake in YAMAN Co. for an amount equivalent to its book value of SAR 1.88 million.

 

Shareholders will also decide on selling the company’s land in Sana’a and Aden to the chairman at their book value of SAR 1.93 million.

 

They will also vote on delegating the company’s board to complete all procedures related to the two transactions.

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