CMA says Thimar OGM cancelled due to lack of quorum; second meeting scheduled for May 9

Thimar branch

The Capital Market Authority (CMA) announced that the ordinary general assembly meeting (OGM) of National Agricultural Marketing Co. (Thimar), scheduled for April 11, 2021, was not held based on the authority granted to CMA in sub-paragraph (d) of Paragraph 2 of Article 90 of the Companies Law.

The OGM was cancelled due to the lack of quorum for the first meeting as the attendance rate was 28.8%, according to a statement from the CMA.

Accordingly, it was decided to shift to second meeting, date of which will be announced later.

In a separate statement, CMA invited Thimar shareholders to attend the OGM (second meeting) on May 9, 2021.

According to data compiled by Argaam, CMA invited Thimar shareholders in March to attend the OGM to discuss the agenda, as follows:

- Failure to meet auditor requirements and facilitated audit works for the third quarter of 2019.

- Non-approval of the financial statements for the third quarter of 2019 by the board of directors.