Mubasher: Al Madar Finance and Investment announced that its postponed ordinary general meeting (OGM) decided to dissolve the board of directors and appoint a temporary administrative committee, according to a bourse filing on Tuesday.

On Monday, Al Madar clarified that the OGM submitted a request to dismiss the company’s CEO, Nabil Ahmed Mohammed Ameen, but the request was rejected by the chairman, Badr Khaled Ali Al Bahar, as well as 0.611% of the shareholders.

It is noteworthy that Al Madar has a capital valued at KWD 21.39 million distributed on 213.9 million shares.

At the stock level, Al Madar closed Tuesday’s session at 27 fils after 70,000 shares were exchanged.