Dar Almarkabah board member resigns

27/09/2023 Argaam
Logo ofDar Almarkabah for Renting Cars Co.

Logo of Dar Almarkabah for Renting Cars Co.

 

Dar Almarkabah for Renting Cars Co.’s board member Wael Al-Rashid submitted his resignation on Sept. 26, according to a Tadawul statement.

 

It added that the resignation is effective from the submission date.

 

The resignation was due to the slow pace in reviewing and establishing the company’s governance system and procedures to align with its transformation into a listed company. In addition, it came due to the failure to follow the proper steps in adopting and disclosing the company's preliminary financial results after listing.

 

The stock started trading on the Nomu-Parallel Market on Aug. 29, 2023, according to data available with Argaam.

 

On Sept. 4, Dar Almarkabah said it is unable to disclose its preliminary financial results for the six-month period ended June 30, 2023, within the specified deadline. It clarified that the delay is due to a matter beyond its control, and that it is still in the process of fulfilling some of the auditor's requirements, which led to the non-completion of the audit procedures.

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