Nama’s shareholders withdraw board sacking request

Nama Chemicals Co. has received a letter from some major shareholders asking to withdraw the board sacking request submitted by them earlier, the company said in a bourse statement.

The company’s board of directors has also decided to withdraw its resignation submitted earlier this month.

As a result, the company will invite shareholders to vote on terminating the current board term and electing a new board.

Last November, Nama’s major shareholders submitted a request for holding a general assembly meeting to vote on dismissing the existing board of directors and electing a new one, Argaam reported earlier.

Later in January, the company’s board members have submitted their resignations.