{"id":575930,"date":"2020-11-03T04:00:19","date_gmt":"2020-11-03T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/"},"modified":"2020-11-03T04:00:19","modified_gmt":"2020-11-03T04:00:19","slug":"sameem-financial-quits-prime-holding-board-after-offloading-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/","title":{"rendered":"Sameem Financial quits Prime Holding board after offloading stake"},"content":{"rendered":"

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)<\/a>. This came after a recent board reshuffle<\/a> gave Sameem only one seat on Prime\u2019s board, leading the investor to lodge complaints and pursue legal action. Sameem, however, ended up offloading its stake in Prime to individual shareholders, saying at the time<\/a> that it already made a 63% return on its investment in Prime.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 lodge complaints and pursue legal […]<\/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":[72,125,7128,2390,976],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575930","post","type-post","status-publish","format-standard","hentry","category-other-business-news-of-note","tag-enterpriseam","tag-investment-watch","tag-ma-watch","tag-other-business-news-of-note","tag-prime-holding","wpautop","entry"],"acf":{"mongo_id":"2b3e3836-68ec-4070-8ede-ea02e3c44dd5","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575899],"teaser":"","voice_url":""},"yoast_head":"\nSameem Financial quits Prime Holding board after offloading stake - 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\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sameem Financial quits Prime Holding board after offloading stake\" \/>\n<meta property=\"og:description\" content=\"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 lodge complaints and pursue legal […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-03T04:00:19+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\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sameem Financial quits Prime Holding board after offloading stake\",\"datePublished\":\"2020-11-03T04:00:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/\"},\"wordCount\":92,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"investment watch\",\"M&A Watch\",\"Other Business News of Note\",\"Prime Holding\"],\"articleSection\":[\"Other Business News of Note\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/sameem-financial-quits-prime-holding-board-after-offloading-stake\/\",\"name\":\"Sameem Financial quits Prime Holding board after offloading stake - 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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":591810,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/17\/sameem-capital-files-legal-complaint-with-egypts-fra-against-prime-holding\/","url_meta":{"origin":575930,"position":1},"title":"Sameem Capital files legal complaint with Egypt\u2019s FRA against Prime Holding","author":"enterpriseam admin","date":"17 December 2019","format":false,"excerpt":"Sameem Capital has lodged a legal complaint with the Financial Regulatory Authority (FRA) against Prime Holding over Prime\u2019s most recent board meeting, according to the local press. 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":574483,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/","url_meta":{"origin":575930,"position":2},"title":"FRA rejects Sameem Capital request to disband Prime Holding\u2019s board","author":"enterpriseam admin","date":"10 September 2020","format":false,"excerpt":"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\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":575930,"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":599377,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/khaled-rashed-named-ceo-and-vice-chairman-at-sameem-capital\/","url_meta":{"origin":575930,"position":4},"title":"Khaled Rashed named CEO and vice chairman at Sameem Capital","author":"enterpriseam admin","date":"26 June 2019","format":false,"excerpt":"MOVES- Prime Holding has appointed Khaled Rashed (LinkedIn) as CEO and vice-chairman of Sameem Capital Activist Investor and Mohamed Maher (LinkedIn) as the executive vice chairman, the local press reported.","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":575930,"position":5},"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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