Former chairman of Etihad Etisalat Co. (Mobily), Abdulaziz Al-Saghyir, drastically cut his stake in the company from 15 million shares to 5.5 million in 2014, according to a board report.
Earlier this month, Mobily, Saudi Arabia’s second-largest telecom operator, said chairman Al-Saghyir resigned for “health” reasons, according to data compiled by Argaam. However, he remained on the company’s board.
Suliman bin Abdulrahman al-Gwaiz, the governor of the state-owned General Organization for Social Insurance fund (GOSI), was named as the new chairman.
Most of the teleco’s other holdings saw no major changes. Former chief executive Khalid Al-Kaf maintained his equity of 308,000 shares until Dec. 31, 2014.
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Al-Saghyir’s Ownership since 2008 (shares in thousands) |
||
|
Change |
Number of shares |
Year |
|
-- |
17,047 |
2008 |
|
-- |
17,423 |
2009 |
|
-- |
17,423 |
2010 |
|
( 124 ) |
17,299 |
2011 |
|
( 139 ) |
17,160 |
2012 |
|
( 2,129 ) |
15,031 |
2013 |
|
( 9,490 ) |
5,541 |
2014 |
|
Al-Saghyir’s Shares in Detail |
|||
|
Change |
Number of shares by end of 2014 |
Number of shares beginning of 2014 |
Items |
|
-- |
230 |
230 |
Al-Saghyir’s direct ownership |
|
( 9,490 ) |
5,310 |
14,800 |
Indirect ownership under the name of Al-Saghyir’s investment company |
|
-- |
1 |
1 |
Indirect ownership under the name of Al-Saghyir’s next-of-kin |
|
( 9,490 ) |
5,541 |
15,031 |
Total |
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