CMA appoints new member in the Board of Directors of Raysut Cement Company

The Capital Market Authority has issued a decision appointing Shabib Mohammed Saif Al Darmaki as new member in the Board of Directors of Raysut Cement Company SAOG to succeed Mobin Jaleel Khan who resigned for personal reasons.

CMA had issued on December 11, 2022 a decision dissolving the Board of Directors of Raysut Cement Company and appointed an independent board of directors comprising five experienced and competent persons to temporarily steer the business and works of the board of directors for three years. The move comes as part of CMA’s follow up of the work of the existing board of directors.

CMA emphasizes that the procedures comes under the powers conferred on the CMA under the Commercial Companies Law and the Securities Law to protect the investors and maintain the stability of the capital market.