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Tuesday, 14 January 2020

Sameem threatens legal action against Prime Holding over board shuffle

Sameem Capital is threatening legal action against Prime Capital for the changes to Prime’s board approved by the general assembly on Sunday, which reduced the number of Sameem Capital representatives to one, the local press reported. Sameem had previously lodged a complaint with the Financial Regulatory Authority over Prime’s removal of its CEO Khaled Rashed, but the complaint was rejected. Sameem holds a 27% stake in Prime.

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