Nama Chemicals new board mulls capital hike

25/02/2019 Argaam

 

Nama Chemicals Co.’s board of directors is mulling capital hike to optimize the interests of the company and shareholders.

 

Accordingly, the upcoming extraordinary general assembly meeting was postponed, the company said in a bourse filing on Sunday.

 

The meeting date will be disclosed later on, after obtaining the necessary regulatory approvals, the statement added.

 

Nama Chemicals shareholders were set to vote on a proposed capital hike of SAR 200 million through rights issue on Mar. 4, 2019, Argaam earlier reported.

 

Last week, the company elected new board members for a three-year term starting from Feb. 17, 2019.

 

Hazem Al-Fardan was named the new board chairman with Abdullah Al-Essa as deputy chairman, effective from Feb. 24, 2019 until the end of the current board term.

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