Al Othaim board approves liquidation of 4 subsidiaries

One of Abdullah Al Othaim Markets Co. branches

Abdullah Al-Othaim Markets Co.’s board of directors approved today, Feb. 16, the voluntary liquidation of four fully owned subsidiaries due to lack of need, as they are not currently engaged in any actual activities, the company said in a statement to Tadawul.

 

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The subsidiaries, which are limited liability companies, include Seven Services Co., with SAR 5 million in capital, and Marafiq Al Tashgheel Co. (SAR 500,000 capital), Thamarat Al Qassim Co. (SAR 20 million), and Shorofat Al Jazira Co. (SAR 500,000).

 

Al Othaim confirmed that the liquidation process will have no financial impact.

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