Thimar Development Holding Company announces the Board of Directors' decision to suspend the calculation of bonuses and attendance allowances for members of the Board of Directors and its subcommittees

THIMARTadawulMay 20, 2026View on exchange

AI Summary

Thimar Development Holding Company’s Board of Directors resolved to suspend the accrual of remuneration and attendance allowances for its members and subcommittees.
The suspension is effective from the start of the current board term on May 14, 2026.
The decision aims to rationalize expenses and strengthen the company’s financial position during its current financial circumstances.
Payments will remain suspended until the company’s financial conditions improve and a subsequent board resolution is issued.

Element List	Explanation
Announcement Detail	Due to the financial circumstances the Company is currently experiencing, and as an initiative by the members of the Board of Directors and its subcommittees to support the Company during this stage, contribute to rationalizing expenses, and strengthen the financial position, through waiving their remuneration and attendance allowances during this period, the Board of Directors has resolved to suspend the accrual of remuneration and attendance allowances for members of the Board of Directors and its subcommittees, effective from the beginning of the current Board term on May 14, 2026, until the Company’s financial conditions improve and a subsequent resolution is issued by the Board of Directors in this regard

Element List

Explanation

Announcement Detail

Due to the financial circumstances the Company is currently experiencing, and as an initiative by the members of the Board of Directors and its subcommittees to support the Company during this stage, contribute to rationalizing expenses, and strengthen the financial position, through waiving their remuneration and attendance allowances during this period, the Board of Directors has resolved to suspend the accrual of remuneration and attendance allowances for members of the Board of Directors and its subcommittees, effective from the beginning of the current Board term on May 14, 2026, until the Company’s financial conditions improve and a subsequent resolution is issued by the Board of Directors in this regard