إعلان شركة التأمين العربية التعاونية عن نتائج إجتماع الجمعية العامة غير العادية الت

A8160 AICC-2.1 (-5.28 %)
1443/04/05 Wed Nov 10, 2021 08:02:37

Arabia Insurance Cooperative Co. Announces the Results of the Extra Ordinary General Assembly's Meeting Approving Increase ( First Meeting )

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Element List	Explanation
Introduction	Arabia Insurance Cooperative Company ("Company") is pleased to announces the results of the Extraordinary General Assembly meeting (the first meeting), which was held at 6:30 PM on Tuesday 04/04/1443 AH, (corresponding to 09/11/2021 AD) , by means of modern technology using the Tadawulaty system. as the attendance rate for the first meeting was 77.42%
City and Location of the Extraordinary General Assembly's Meeting	AICC Head Office, Riyadh, Al Wurud District, King Abdulaziz Road, Bin Tami Center, First floor, Via means of modern technology.
Date of the Extraordinary General Assembly's Meeting	2021-11-09 Corresponding to 1443-04-04
Time of the Extraordinary General Assembly's Meeting	18:30
Percentage of Attending Shareholders	77.42
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	1. Mr. Abdulrahman Mohammed AlAngri 2. Mr. Abdulaziz Saleh AlOmair 3. Mr. Mounir Boutrus Muashar 4. Mr. Ghassan Ibarhim Aqeel Members who apologized for attending the meeting: 1. Mr. Abdulaziz Abdulhadi AlQahtani 2. Mr. Mohammed Ibrahim AlMangour 3. Mr. Othman (Muhammad Ali) Bedair
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf	1. Mr. Abdulrahman Mohammed AlAngari (Chairman of Audit Committee) 2. Mr. Abdulaziz Saleh AlOmair (Chairman of Nomination and Remuneration Committee) 3. Mr. Mounir Boutrus Muashar (Chairman of Executive Committee) 4. Mr. Ghassan Ibrahim Aqeel (Chairman of Investment Committee and Risk Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's	1. Disapproval of the Board's recommendation to increase the company's capital by offering the right issue shares as follows: • Offering amount: Two hundred and sixty five thousand (265,000,000) Saudi riyals. a. The company's capital before the increase: (265,000,000) Saudi riyals. b. The company's capital after increase: (530,000,000) Saudi Riyals. c. The increase ratio will represent 100% of the company's capital. d. The number of shares before the increase: (26,500,000) ordinary shares. e. The number of shares after the increase: (53,000,000) ordinary Shares. • Reasons and methods of changing capital: - Reason of capital increase: to support the growth of the Company's business while maintaining the solvency requirements imposed by the Saudi Central Bank. • Eligibility date: If the item is approved, eligible shareholders are those holding shares on the day of convening the Extra-Ordinary General Assembly and who are registered in the shareholders' registry with the Securities Depository Center Company ("Edaa") at the end of the second trading day following the eligibility date. • Disapproval of amending (Article No. 8) of the Company's bylaws relating to capital. 2. Disapproval of the amendment of Article (3) of the Company's Bylaws relating to the Purposes of Company. 3. Disapproval of the amendment of Article (4) of the Company's Bylaws relating to the Participation and Acquisition. 4. Disapproval of the amendment of Article (5) of the Company's Bylaws relating to Company's Head Office. 5. Disapproval of the amendment of Article (7) of the Company's Bylaws relating to the Company's Investments. 6. Disapproval of the amendment of Article (12) of the Company's Bylaws relating to the Trading of shares. 7. Disapproval of the amendment of Article (13) of the Company's By-Laws relating to the Increasing capital. 8. Disapproval of the amendment of Article (14) of the Company's By-Laws relating to the Reducing Capital. 9. Disapproval of the amendment of Article (15) of the Company's By-Laws relating to the Company's Management. 10. Disapproval of the amendment of Article (16) of the Company's By-Laws relating to the Expiry of Board Membership. 11. Disapproval of the amendment of Article (17) of the Company's By-Laws relating to the Membership Vacancy. 12. Disapproval of the amendment of Article (18) of the Company's By-Laws relating to the Powers and Authorities of the Board. 13. Disapproval of the amendment of Article (19) of the Company's By-Laws relating to the Remuneration of the Board of Directors, Chairman of the Board and Managing Director. 14. Disapproval of the amendment of Article (21) of the Company's By-Laws relating to the Meetings of the board. 15. Disapproval of the amendment of Article (22) of the Company's By-Laws relating to the Quorum at Meetings and Decisions of the Board. 16. Disapproval of the amendment of Article (24) of the Company's By-Laws relating to the Agreements, Contracts and Conflict of Interests. 17. Disapproval of the amendment of Article (25) of the Company's By-Laws relating to the Attending Meetings. 18. Disapproval of the amendment of Article (26) of the Company's By-Law relating to the Incorporating Assembly. 19. Disapproval of the amendment of Article (27) of the Company's By-Laws relating to the Competencies of Incorporating Assembly. 20. Disapproval of the amendment of Article (28) of the Company's By-Laws relating to Authorities of the Ordinary General Assembly. 21. Disapproval of the amendment of Article (30) of the Company's By-Laws relating to the Invitation of the General Assemblies. 22. Disapproval of the amendment of Article (32) of the Company's By-Laws relating to the Quorum at the Ordinary General Meeting. 23. Disapproval of the amendment of Article (33) of the Company's By-Laws relating to the Quorum at Extraordinary General Meeting. 24. Disapproval of the amendment of Article (37) of the Company's By-Laws relating to Chairing the Assemblies and the Preparation of the Minutes. 25. Disapproval of the amendment of Article (39) of the Company's By-Laws relating to the Appointment of the Auditor. 26. Disapproval of the amendment of Article (43) of the Company's By-Laws relating to the Financial Documents/Instruments. 27. Disapproval of the amendment of Article (45) of the Company's By-Laws relating to the Zakat, Reserve and distribution of dividends. 28. Disapproval of the amendment of Article (46) of the Company's By-Laws relating to Maturity of profits. 29. Disapproval of the amendment of Article (47) of the Company's By-Laws relating to Losses of the Company. 30. Disapproval of the amendment of Article (49) of the Company's By-Laws relating to the Liability of Board Members. 31. Disapproval of the amendment of Article (50) of the Company's By-Laws relating to the Dissolution of the Company. 32. Disapproval of the amendment of the company's Corporate Governance Manual.

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