Riyadh – Mubasher: Four of Mohammed Al Mojil Group's board members resigned on Tuesday, approaching the company's final steps towards liquidation.
Mohammed Al Qarni, Adel Al Jabarti, Salim Zamanan, and Suhail Simbawa have stepped down, according to a bourse filing on Wednesday.
Al Mojil had said earlier that the court has put an auction notice outside of the company, stating that all movable items are under seizure and shall be put on auction due to verdicts issued against the company.
The company's losses exceeded 300% of the capital, while it lost the ability to make transactions to enhance its situation, the statement said.
