CMA invites Thimar shareholders for OGM to discuss Q3 2019 financials

The Capital Market Authority (CMA) invited today, March 17, 2021 the shareholders of National Agricultural Marketing Co. (Thimar) to attend an ordinary general assembly meeting, which will be held on April 11, according to the bourse statement.
 

Shareholders will look into the company’s failure to meet auditor's requirements and facilitate audit works for Q3 2019, as well as the board of directors’ failure to approve the Q3 2019 financial statements.
 

The CMA announced in early March referring several alleged violations by the company's chairman and board members, based on its inspection and review of the company's accounts, to the Public Prosecution, according to Argaam's data.
 

The referrals include suspected violating Article 49 (a) of the Capital Market Law by the chairman and a number of directors from Jan. 22, 2014, until Mar. 5, 2017, for their responsibility in approving the interim financial statements for the period ending Mar. 31, 2015, as well as the annual financial statements for the period ending Dec. 31, 2015, through misleading information that impacted the share price and resulted in creating a false and misleading impression about the stock.