Al Mojil Group announces the resignation of two Board Members

01/10/2014 Argaam

Mohammad Al Mojil Group Company announced the resignation of two independant Board Members; Mr. Adel Abdulrahman Al-Butairy and Mr. Sulaiman Omar Al-Sammahi. They have submitted their resignation on September, 8, 2014 to be effective from September, 30, 2014.

Al Mojil Group said that the resignations were due to their dissatisfaction of the company’s financial & operational results and its current status, the company said in a filing to Tadawul.

According to data available on “Argaam”, the company reported accumulated losses of SAR 2689.8 mn representing 215% of its paid in capital by the end of August 2014. The CMA has suspended the company’s shares as of July, 22, 2012.

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