Gulf General Cooperative Insurance Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting
|Introduction||The Board of Directors of the Gulf General Cooperative Insurance Company is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held, at 6:30 P.M. on Wednesday, 03 Dhul-Hijjah 1444 AH, corresponding to 21 June 2023 AD, through means of modern technology.|
|City and Location of the General Assembly's Meeting||Company headquarters, Jeddah - through means of modern technology.|
|URL for the Meeting Location||www.tadawulaty.com.sa|
|Date of the General Assembly's Meeting||2023-06-21 Corresponding to 1444-12-03|
|Time of the General Assembly's Meeting||18:30|
|Attendance Eligibility||Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors.|
|Quorum for Convening the General Assembly's Meeting||The meeting of the Ordinary General Assembly shall be valid if attended by shareholders representing at least a quarter of the company’s capital. If the necessary quorum is not available to hold this meeting, the second meeting will be held an hour after the end of the period specified for convening the first meeting, and the second meeting shall be valid regardless of the number of shares represented therein.|
|General Assembly Meeting Agenda||1. Viewing the Board of Directors' report and discussing it for the fiscal year ending on 31/12/2022 AD. |
2. Viewing the financial statements and discussing it for the fiscal year ending on 31/12/2022 AD.
3. Voting on the auditors’ report on the Company accounts for the fiscal year ending on 31/12/2022 AD.
4. Voting on appointing the auditors for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditors shall examine, review and audit the second quarter, third quarter, and annual financial statements of the fiscal year ending 2023 AD, and the first quarter of the fiscal year 2024 AD, and the determination of the auditors’ remuneration.
5. Voting on the business and contracts that will be concluded between the company and (Al-Dabbagh Group), in which the Chairman of the Board of Directors Mr. Jamal Abdullah Al-Dabbagh has a direct interest, as he is the owner of this group, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2022 AD were insurance premiums underwritten in the amount of 8,010,000 Riyals. (attached).
6. Voting on the business and contracts that will be concluded between the company and (Rolaco Group), in which the Vice Chairman of the Board of Directors Mr. Saud Abdulaziz Al-Sulaiman has a direct interest, as he is the owner of this group, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2022 AD were insurance premiums underwritten in the amount of 133,000 Riyals. (attached).
7. Voting on the business and contracts that will be concluded between the company and (Raghf Catering Services Company), in which the Board Member Mr. Majed Diaauddin Kareem has a direct interest, as he is the owner of this Company, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2022 AD were insurance premiums underwritten in the amount of 18,000 Riyals. (attached).
8. Voting on the discharge of the Directors from their liabilities for the fiscal year ending on 31/12/2022 AD.
9. Voting on paying an amount of (SAR 1,200,000) as remuneration to the Board members for the fiscal year ending on 31/12/2022 AD.
|The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any)||Registered Shareholders in Tadawulaty can vote remotely on the General Assembly agenda starting from (01 A.M) on (Saturday) 28/11/1444 AH, corresponding to 17/06/2023 AD until the end of meeting time. Registration and voting in Tadawulaty services will be available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa.|
|Eligibility for Attendance Registration and Voting||Eligibility for Registering the Attendance of the General Assembly's Meeting Ends upon the Convenience of the General Assembly's Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes|
|Method of Communication||In case of any inquiries regarding the General Assembly meeting agenda items, we hope to communicate with the Department of Shareholder Relationships by phone: 920001862 Ext: 8986, or email firstname.lastname@example.org|
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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