Al Sagr drops major shareholder’s request to terminate chairman, board member

Al Sagr Cooperative Insurance Co. dropped a major shareholder’s request for holding an ordinary general assembly meeting (OGM) to vote on the dismissal of two board members, according to a statement to Tadawul, today, April 17.

Al Sagr cited that Fahd bin Abdul Rahman Al-Turki (Chairman) and Sultan bin Khalid Al Turki (independent board member) have already resigned.

On March 28, the company received a letter from its major shareholder, Al Sagr National Co. (Dubai), requesting to hold an OGM to vote on the dismissal of two board members.

The shareholder sought the dismissal of Fahd Al-Turki and Sultan Al Turki, Argaam earlier reported.