Thimar rebrands into Thimar Development Holding

Logo of Thimar

National Agricultural Marketing Co. (Thimar) announced the change of its name to Thimar Development Holding Co.  

According to a bourse filing, the decision came following the approval of the extraordinary general assembly meeting (EGM) held on Oct. 12, to amend the articles of association.  

The company’s shareholders also approved to amend Article No. 3 related to the company's purposes, to include management of subsidiaries or co-management of other businesses, in which Thimar holds stakes, according to data compiled by Argaam.   

Under this amendment, Thimar will also invest its cash in shares and other securities, acquire properties and required assets to continue its operations, and provide loans, warranties, and finance for subsidiaries. Moreover, the amendment covers the acquisition of industrial property rights, franchises and other moral rights in order to use or lease them to subsidiaries or third parties.