{"id":574483,"date":"2020-09-10T04:09:13","date_gmt":"2020-09-10T04:09:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/"},"modified":"2020-09-10T04:09:13","modified_gmt":"2020-09-10T04:09:13","slug":"fra-rejects-sameem-capital-request-to-disband-prime-holdings-board","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/","title":{"rendered":"FRA rejects Sameem Capital request to disband Prime Holding\u2019s board"},"content":{"rendered":"

The Financial Regulatory Authority (FRA) has rejected requests by shareholders to disband Prime Holding\u2019s board of directors, according to a regulatory disclosure (pdf).<\/a> Activist investor Sameem Capital, which owns 27% of Prime, had lodged a complaint<\/a> with the FRA and threatened<\/a>legal action alleging that a reshuffle<\/a> which gave Sameem Capital only one seat on the board violated company rules.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Regulatory Authority (FRA) has rejected requests by shareholders to disband Prime Holding\u2019s board of directors, according to a regulatory disclosure (pdf). Activist investor Sameem Capital, which owns 27% of Prime, had lodged a complaint with the FRA and threatenedlegal action alleging that a reshuffle which gave Sameem Capital only one seat on the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9315],"tags":[957,72,76,2390],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574483","post","type-post","status-publish","format-standard","hentry","category-other-business-news-of-note","tag-dispute-watch","tag-enterpriseam","tag-financial-regulatory-authority","tag-other-business-news-of-note","wpautop","entry"],"acf":{"mongo_id":"319675ed-f5a1-47e4-ad94-3020824230ce","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[574457],"teaser":"","voice_url":""},"yoast_head":"\nFRA rejects Sameem Capital request to disband Prime Holding\u2019s board - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA rejects Sameem Capital request to disband Prime Holding\u2019s board\" \/>\n<meta property=\"og:description\" content=\"The Financial Regulatory Authority (FRA) has rejected requests by shareholders to disband Prime Holding\u2019s board of directors, according to a regulatory disclosure (pdf). Activist investor Sameem Capital, which owns 27% of Prime, had lodged a complaint with the FRA and threatenedlegal action alleging that a reshuffle which gave Sameem Capital only one seat on the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-10T04:09:13+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FRA rejects Sameem Capital request to disband Prime Holding\u2019s board\",\"datePublished\":\"2020-09-10T04:09:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\"},\"wordCount\":70,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"dispute watch\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"Other Business News of Note\"],\"articleSection\":[\"Other Business News of Note\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\",\"name\":\"FRA rejects Sameem Capital request to disband Prime Holding\u2019s board - 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Sameem is alleging the meeting violated the company\u2019s bylaws, although it remains unclear in what way. The company is asking the FRA to\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567167,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/sameem-threatens-legal-action-against-prime-holding-over-board-shuffle\/","url_meta":{"origin":574483,"position":1},"title":"Sameem threatens legal action against Prime Holding over board shuffle","author":"enterpriseam admin","date":"14 January 2020","format":false,"excerpt":"Sameem Capital is threatening legal action against Prime Capital for the changes to Prime\u2019s board approved by the general assembly on Sunday, which reduced the number of Sameem Capital representatives to one,the local press reported. Sameem had previouslylodged a complaint with the Financial Regulatory Authority over Prime\u2019s removal of its\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575930,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/","url_meta":{"origin":574483,"position":2},"title":"Sameem Financial quits Prime Holding board after offloading stake","author":"enterpriseam admin","date":"3 November 2020","format":false,"excerpt":"Activist investor Sameem Financial has resigned from the board of directors of Prime Holding, a company in which Sameem previously owned a 26% stake, Prime said in a regulatory filing (pdf). This came after a recent board reshuffle gave Sameem only one seat on Prime\u2019s board, leading the investor to\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567112,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/13\/prime-holding-approves-board-reshuffle\/","url_meta":{"origin":574483,"position":3},"title":"Prime Holding approves board reshuffle","author":"enterpriseam admin","date":"13 January 2020","format":false,"excerpt":"MOVES- Prime Holding approves board reshuffle: The general assembly of Prime Holding has approved changes to the formation of the board, and reduced the number of Sameem Capital representatives to one, the local press reported. Prime Holdings had appointed Mohamed Maher as CEO after removing Khaled Rashed back in December.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591838,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/prime-holdings-removal-of-khaled-rashed-as-ceo-ratified-by-fra\/","url_meta":{"origin":574483,"position":4},"title":"Prime Holdings\u2019 removal of Khaled Rashed as CEO ratified by FRA","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"MOVES- FRA approves Prime Holdings\u2019 removal of Khaled Rashed as CEO: The Financial Regulatory Authority (FRA) has ratified Prime Holdings\u2019 board of directors\u2019 decision to appoint vice chairman Mohamed Maher as CEO after removing Khaled Rashed, according to the local press. 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