19th Feb 2021 14:28
(Alliance News) - Aston Martin Lagonda Global Holdings PLC on Monday said Amr AbouelSeoud has stepped down from the board.
AbouelSeoud was nominated to the board by the Adeem and Primewagon shareholder group in 2019, who at the time had a total stake of 28%.
However, on Friday, the FTSE 250-listed luxury car manufacturer said that as the group's stake has dropped to less than 7%, AbouelSeoud has stepped down and the relationship agreement between the parties has been terminated.
Shares in Aston Martin were trading 1.5% lower at 2,126.86 pence each on Friday afternoon in London.
By Ife Taiwo; [email protected]
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