8th Oct 2019 09:11
(Alliance News) - Aston Martin Lagonda Global Holdings PLC said Tuesday its Adeem and Primewagon shareholder group has nominated Amr AbouelSeoud and Mahoud Samy Mohammed Aly El Sayed as non-executive directors with immediate effect.
The two directors will represent the Adeem and Primewagon shareholder group on Aston Martin's board, replacing Najeeb Al Humaidhi and Saoud Al Humaidhi as the shareholder's representative directors.
Aston Martin thanked both directors for their services in the year since its London initial public offering.
Tuesday's appointments follow the announcement on Wednesday last week that Primewagon Jersey, an investment vehicle connected to Najeeb Al Humaidhi sold GBP9.6 million in Aston Martin shares last Tuesday as part of a partial tender offer.
This sale brought the Adeem and Primewagon group's total shareholding to around 28%.
Late in September, a major investor secured approval to bolster its stake in the luxury car maker by 3%, after the offer was heavily oversubscribed.
Strategic European Investment Group Sarl - which already owned over 30% of the firm - offered to buy a further 6.8 million shares, equivalent to a 3% stake, at 1,000 pence each.
Shares in Aston Martin Lagonda were down 2.7% at 467.00 pence on Tuesday.
By Dayo Laniyan; [email protected]
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