Thimar shareholders to vote on company rebranding on Sept. 20

One of Thimar branches

Shareholders of National Agriculture Marketing Co. (Thimar) will vote on amending Article No. 1 of the articles of association on the establishment of the company as well as Article No. 2 on rebranding the company to "Thimar Development Holding Co.", during the extraordinary general meeting (EGM) scheduled for Monday, Sept. 20, according to a bourse filing.

Shareholders will also discuss amending Article No. 3 related to the company's purposes, to include the following:

1) Management of subsidiaries or participation in the administration of other companies in which the company holds a stake, as well as providing the required support.

2) Investment its cash in share and other securities.

3) Possessing properties and required assets to start its business.

4) Providing loans, warranties, and finance for subsidiaries.

5) Owning rights of industrial property, privilege rights and other moral rights, as well as using and renting them for its subsidiaries or others.

The Saudi Exchange (Tadawul) suspended trading on shares of Thimar, as of Dec. 11, 2019, for not disclosing its Q3 financial statements within the specified period. The suspension continued for failure to announce financials for the subsequent periods.

The stock closed the last session at SAR 17.20.