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The Board of Directors of Aljazira Takaful Taawuni (AJT) invites its shareholders to attend the Ordinary General Assembly Meeting (first meeting(by means of modern technology.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Aljazira Takaful Taawuni Company is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly meeting (first meeting), which is scheduled to be held, at exactly 19: 30 pm on Thursday 15-11-1445 AH corresponding to 23-05-2024 AD, via Modern technology means. |
| City and Location of the General Assembly's Meeting | Jeddah at Al-Hamra District - Al Madinah Descending Road (Down Town Road) - Al-Mosadiya Market Center - via modern technology |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-05-23 Corresponding to 1445-11-15 |
| Time of the General Assembly’s Meeting | 19:30 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | The Shareholders registered in Aljazira Takaful’s shareholders register at the Securities Depository Center Company “Edaa” at the end of the trading session preceding the General Assembly meeting. |
| Quorum for Convening the General Assembly's Meeting | As per Article (32) of the Company Articles of Association, The Ordinary General Meeting shall be valid only if attended by shareholders representing at least 25% of the Company’s Capital. In case of non-completion of the Quorum at this meeting, a second meeting will be held within one hour of the scheduled time for the first meeting, and the second meeting will be deemed quorate regardless of the number of the Shareholders represented therein. |
| General Assembly Meeting Agenda | 1. Reviewing and discussing the Board of Directors Annual Report for the fiscal year ending 31December 2023. 2. Voting on the External Auditor’s Report for the year ending 31 December 2023 after discussing it. 3. Reviewing and discussing the Financial Statements for the fiscal year ending 31 December 2023. 4. Voting on releasing the Board of Directors members from their liability for the fiscal year ending 31 December 2023. 5. Voting on appointing the External Auditors among the candidates based on the Audit Committee recommendation as to examine, review and audit the financial statements for the second and third quarters along with 2024-year end financials and the first quarter for the year 2025 and determining their fees. 6. Voting on the businesses and contracts that will be concluded between the company and Aljazira bank (Founding Shareholder) In which the members of the Board of Directors, Eng. Abdulmajeed bin Ibrahim Al-Sultan, Mr. Naif Abdulkarim Al Abdualkarim, Mr. Khalid bin Othman Al-Othman, have an indirect interest, which is personal loans protection Policy for year 2023 AD, this contract was made without preferential conditions or benefits, amounted to ( 19,630,000) Saudi riyals (Attached) 7. Voting on the businesses and contracts that will be concluded between the company and Aljazira bank (Founding Shareholder) In which the members of the Board of Directors, Eng. Abdulmajeed bin Ibrahim Al-Sultan, Mr. Naif Abdulkarim Al Abdualkarim, Mr. Khalid bin Othman Al-Othman, have an indirect interest, which is Mortgage loans protection Policy for year 2023 AD, this contract was made without preferential conditions or benefits, amounted to (37,446,000) Saudi riyals (Attached) 8. Voting on the businesses and contracts that will be concluded between the company and Aljazira bank (Founding Shareholder) In which the members of the Board of Directors, Eng. Abdulmajeed bin Ibrahim Al-Sultan, Mr. Naif Abdulkarim Al Abdualkarim, Mr. Khalid bin Othman Al-Othman, have an indirect interest, which is Addition in statutory deposit for year 2023 AD, this contract was made without preferential conditions or benefits, amounted to (11,000,000) Saudi riyals (Attached) 9. Voting on the businesses and contracts that will be concluded between the company and Aljazira bank (Founding Shareholder) In which the members of the Board of Directors, Eng. Abdulmajeed bin Ibrahim Al-Sultan, Mr. Naif Abdulkarim Al Abdualkarim, Mr. Khalid bin Othman Al-Othman, have an indirect interest, which is Investment in the sukuks issued by Bank Aljazirafor year 2023 AD, this contract was made without preferential conditions or benefits, amounted to (150,000,000) Saudi riyals (Attached) 10. Voting on the businesses and contracts that will take place between the Aljazira Takaful Taawuni and AlJazira Capital Company which is considered (Founding Shareholder), in which the members of the Board of Directors, Eng. Abdulmajeed bin Ibrahim Al-Sultan, Mr. Naif Abdulkarim Al Abdelkarim, Mr. Naif Mesnad Al Mesnad, Mr. Khalid bin Othman Al-Othman, have an indirect interest, which is Other income from managing investment funds,for year 2023 AD, those contract was made without preferential conditions or benefits, amounted to (10,506,000) Saudi riyals. (Attached). 11. Voting to delegate the Board of Directors with the authority of the General Assembly with the license mentioned in Section (1) of Article (27) of the Companies Law, for a one-year period effective upon the AGM approval date or up to ending of the authorized Board term, whichever is earlier, in accordance with the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies. 12. Voting on disbursing an amount of (1,830,000) thousand Saudi riyals as an annual remuneration to the members of the Board of Directors for the fiscal year ended on 31 December 2023. 13. Voting on amending the updated evaluation and remuneration policies for members of the Board of Directors, committees, and senior management. (attached) |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders have the right to discuss topics on the assembly’s agenda and ask questions in accordance with Article 91 of the new companies’ law. The right to register attendance at the association meeting ends at the time of the association meeting. The right of attendees to vote on the assembly’s items ends when the screening committee finishes counting the votes. |
| Details of the electronic voting on the Assembly’s agenda | The shareholders who are registered in the website of (Tadawulaty) electronic trading services can remotely vote on the items of the General Assembly through (electronic voting) service, and note that the remote voting will start at 01:00 am on Sunday 11-11-1445 AH corresponding to 19/05/2024 AD, and continue until the end of the General Assembly. Please note that registration in Tadawulaty service and voting is provided free of charge for all shareholders through the following link: (www.tadawulaty.com.sa) |
| Method of Communication in Case of Any Enquiries | Please contact the Shareholders Affairs Unit through the following numbers during the company’s official hours. 0126688877 Ext: 8011-8577, (IR.Inquires@ajt.com.sa), Or write to the following address: (Attention of the Secretary of the Board of Directors – (Aljazira Takaful Taawuni Company – P.O Box 5215 Jeddah 21422)) |
| Attached Documents | |
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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Last Price 17.94
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Value Traded (Sar) 5,217,240.78
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