Riyadh – Mubasher: Ash-Sharqiyah Development’s board of directors on Thursday, 22 November approved the resignation of chairman Abdullah Oudah AlEnizi.
The firm stated that AlEnizi submitted his resignation due to personal reasons, according to a statement to the Saudi Stock Exchange (Tadawul).
Ash-Sharqiyah Development last reported a 51.39% year-on-year decline in net losses in the third quarter of 2018, reaching SAR 2.27 million, compared to SAR 4.66 million in Q3-17, according to a bourse filing.
From January to September, the firm’s net losses after calculating Zakat and Tax decreased by 52.3% to SAR 5.78 million, from SAR 12.13 million in the same period a year earlier.
Ash-Sharqiyah Development’s stock decreased 1.09% to finish Sunday’s trading session at SAR 45.10.
