CMA forms interim committee to supervise Al-Khodari management

Logo of Al-Khodari

The board of the Capital Market Authority (CMA) issued a decision today, April 5, 2021, to form an interim committee to supervise the management of Abdullah A. M. Al-Khodari Sons Co. and invite shareholders for a general assembly within a period of no later than three months to elect a new board of directors.

The committee will commence its duties from April 6, 2021, CMA said in a statement.

The CMA board appointed Abdulrahman Mohammed Alangari (Chairman), Abdulrahman Abdulmohsen Alnafea (Vice Chairman), and Saad Flah Alqahtani (Member) as members in the interim committee.

The move comes as part of CMA’s efforts to regulate the financial market, protect investors based on the authority granted to CMA in Article No. 69 of the Company's Law; and due to the resignation of Al-Khodari's board members.

According to Argaam's data, all the company's board members submitted their resignation on April 3, 2021, due to personal reasons.