Dubai – Mubasher: The ordinary general meeting (OGM) of SHUAA Capital on Thursday approved the appointment of Hesham Al Rayyes, CEO of GFH Financial Group, as a board member in the company.
Earlier this month, SHUAA said one of its board members had resigned.
On 16 March, the Dubai-listed financial services company confirmed it was in preliminary talks with GFH Financial Group regarding a possible merger or acquisition.
Last month, SHUAA reported narrowing its losses in 2016 by 30.44% to AED 132.5 million from AED 190.3 million in 2015.
