SPM recommends firing two board members over violations

25/06/2018 Argaam

Saudi Paper Manufacturing Co.’s (SPM) board of directors on June 13 has decided to freeze the board membership of Abdullah Al-Enazi and Abdulkarim Al-Nohair due to undeclared conflict of interest, the firm said in a statement to Tadawul today.

 

Both board members also committed violations during their membership which started on April 27.

 

The board of directors, therefore, has recommended the termination of their membership.

 

The termination is still subject to the general assembly’s approval at the next meeting, it said.

 

The statement added that the board shall notify the Capital Market Authority (CMA) on the violations of the two board members.

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