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Thursday, 10 September 2020

FRA rejects Sameem Capital request to disband Prime Holding’s board

The Financial Regulatory Authority (FRA) has rejected requests by shareholders to disband Prime Holding’s board of directors, according to a regulatory disclosure (pdf). Activist investor Sameem Capital, which owns 27% of Prime, had lodged a complaint with the FRA and threatened legal action alleging that a reshuffle which gave Sameem Capital only one seat on the board violated company rules.

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