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Tuesday, 3 November 2020

Sameem Financial quits Prime Holding board after offloading stake

Activist investor Sameem Financial has resigned from the board of directors of Prime Holding, a company in which Sameem previously owned a 26% stake, Prime said in a regulatory filing (pdf). This came after a recent board reshuffle gave Sameem only one seat on Prime’s board, leading the investor to lodge complaints and pursue legal action. Sameem, however, ended up offloading its stake in Prime to individual shareholders, saying at the time that it already made a 63% return on its investment in Prime.

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