CMA announces holding Thimar’s general assembly meeting

A branch of National Agricultural Marketing (Thimar)

The Capital Market Authority (CMA) announced the convenience of National Agricultural Marketing Co.’s (Thimar) general assembly meeting on May 9, 2021, based on the authority granted to the CMA in sub-paragraph (D) of paragraph (2) of Article (90) of the company’s law.

The meeting, which had an attendance of 16.73%, discussed agenda topics including the failure to meet auditor requirements and facilitated audit works for Q3 2019.

They also discussed the board of directors’ non-approval of the Q3 2019 financial statements.

In March, the CMA said it had inspected Thimar’s accounts, following which the Authority’s board issued a decision that included referring several alleged violations by the chairman and board members of the company to the Public Prosecution, Argaam reported.

This was for their responsibility in approving the interim financial statements for the period ending March 31, 2015.

The company has not announced financial results since Q2 2019, and the company's shares have been suspended from trading since Dec. 11, 2019.