Sadr Logistics says major founders’ transfer ownership to Elmah Investment

04/12/2022 Argaam
Logo ofSadr Logistics Co.

Logo of Sadr Logistics Co.

 

Sadr Logistics Co. received a letter from the company's major founding owners stating that the ownership of the founders, Mohammed Al-Samaani and Bandar Al-Samaani, had been transferred to Elmah Investment Holding Co. 

 

In a statement to Tadawul, Elmah Investment Holding Co. is a limited liability firm. It is a family business owned by the Al-Samaani family, who are the founders of Sadr Logistics. 

 

Elmah Investment currently owns 19.994% of Sadr Logistics. 

 

The step highlighted the founders’ keenness to shift from individual work to institutional work, in order to achieve business governance in accordance with best practices for family businesses. 

 

Sadr Logistics affirmed that this disclosure comes within the framework of transparency and clarification, knowing that Mohammed Al-Samaani still holds the Chairman position and Bandar Al-Samaani is Vice-Chairman, Managing Director, and CEO. 

 

These developments will not affect the company's strategy, business, and projects, the statement noted.

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