Logo ofMorabaha Marina Financing Co. (MRNA)
Morabaha Marina Financing Co. (MRNA) said it has begun legal and regulatory action by filing complaints with the Capital Market Authority (CMA) against former managing director (MD) and managing director Waleed Al-Ghamlas, seeking compensation for damages the company claims resulted from actions cited in a liability suit. 
The company said in a Tadawul statement that this step follows a resolution by its ordinary general assembly to pursue a liability claim against Al-Ghamlas, adding that the update confirms the start of legal procedures to protect the company and its shareholders.
MRNA said it will disclose any material developments related to the complaints, including any potential financial impact, in line with relevant regulations and when due.
The company reaffirmed its commitment to taking all necessary legal and regulatory measures to safeguard its interests and shareholder rights.
Argaam data shows the ordinary general assembly approved in April filing a liability lawsuit against Al-Ghamlas as MD. The company had also announced in August 2024 the removal of board member Al-Ghamlas for violating Paragraph (c) of Article 12(1) of the Finance Companies Control Law.
Logo ofMorabaha Marina Financing Co. (MRNA)
Morabaha Marina Financing Co. (MRNA) said it has begun legal and regulatory action by filing complaints with the Capital Market Authority (CMA) against former managing director (MD) and managing director Waleed Al-Ghamlas, seeking compensation for damages the company claims resulted from actions cited in a liability suit.
The company said in a Tadawul statement that this step follows a resolution by its ordinary general assembly to pursue a liability claim against Al-Ghamlas, adding that the update confirms the start of legal procedures to protect the company and its shareholders.
MRNA said it will disclose any material developments related to the complaints, including any potential financial impact, in line with relevant regulations and when due.
The company reaffirmed its commitment to taking all necessary legal and regulatory measures to safeguard its interests and shareholder rights.
Argaam data shows the ordinary general assembly approved in April filing a liability lawsuit against Al-Ghamlas as MD. The company had also announced in August 2024 the removal of board member Al-Ghamlas for violating Paragraph (c) of Article 12(1) of the Finance Companies Control Law.
