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Wataniya Insurance Co. Announces the Results of the Ordinary General Assembly Meeting, (First Meeting)
| Element List | Explanation |
|---|---|
| City and Location of the General Assembly's Meeting | Company's Head Office in Jeddah via modern technology |
| Date of the General Assembly's Meeting | 2024-05-30 Corresponding to 1445-11-22 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 44.74 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | attended: Dr. Hussein Akeil - Chairman of the Board - Non-Executive Board member Mr. Faisal Charara - Vice Chairman of the Board - Non-Executive Board member Mr. Amin Alafifi - Non-Executive Board member Mr. Nidal Radwan - Independent Board Member Mr. Raed Sater - Independent Board Member Mr. Haitham Albakree - Executive Board Member Mr. Tahir Aldabbagh - Non-Executive Board Member Mr. Omar Hasim - Independent Board Member Mrs. Abir Kaki - Independent Board Member And No Board Member was absent. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Nidal Radwan - Audit Committee Member Mr. Sami Alhalabi -Audit Committee Member Mr. Raed Sater - The remuneration & Compensation Committee Chairman Mr. Amin Alafifi - The Risk Committee Chairman Mr. Faisal Charara - The Executive Committee Chairman Mr. Haitham Albakree - The Investment Committee Member |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- View the Board of Directors Report for the Financial year ended 31 December 2023 and discuss it. 2- Approved and discuss the External Auditors Report for the Financial Year ended 31 December 2023. 3-Reviewed and discussed the Annual Financial Statement as of 31 December 2023. 4- Approved the appointment of External Auditors among the candidates based on the Audit Committee’s recommendation, to audit the interim financial statement of Quarter2, Quarter3, Annual Financial Statement 2024, and the Quarter1, 2025. And to approve their Fees for the following: Mess. Price Waterhouse Coopers. with total fees SR 1,150,000 excluding VAT. Mess. KPMG Alfozan & Co. with total fees SR 1,175,000 excluding VAT. 5- Approved the business transaction between E A Juffali & Bros, and Wataniya Insurance Company where there is indirect interest in this contract for Mr. Amin Alafifi & Mr. Faisal Charara as they are Directors in both Companies, the contract is The Head Office rent Contract. Transaction during 2023, amounted SR 3,509,252 (including VAT), with No preferential conditions. 6- Approved the business transaction between Digital Excellence Company For Information Systems Technology, and Wataniya Insurance Company where there is indirect interest in this contract for Mr. Amin Alafifi & Mr. Faisal Charara as they are Directors in both Companies, the contract is The renewal of IT Maintenance Services Agreement. Transaction during 2023, amounted SR 1,496,915 (including VAT), with No preferential conditions. 7- Approved the business transaction between E A Juffali & Bros, and Wataniya Insurance Company where there is indirect interest in this contract for Mr. Amin Alafifi & Mr. Faisal Charara as they are Directors in both Companies, the contract is The Renewal of Insurance contract Premiums. Transaction during 2023, amounted SR 748,039 (including VAT), with no preferential conditions. 8- Approved the business transaction between SNIC Insurance Co, and Wataniya Insurance Company where there is indirect interest in this contract for Mr. Amin Alafifi & Mr. Faisal Charara as they are Directors in both Companies. The contract is renewal of Reinsurance Non-Obligatory treaty. Transaction during 2023, amounted SR 1,209,872 (including VAT), with No preferential conditions. 9- Approved the business transaction between Saudi Cement Company, and Wataniya Insurance Company where there is indirect interest in this contract for Mr. Amin Alafifi as a Director in both Companies. The contract is Insurance Premiums. Transaction during 2023, amounted SR4,508,474 (including VAT), with No preferential conditions. 10- Approved the business transaction between Naghi Group of Companies, and Wataniya Insurance Company where there is indirect interest in this contract for Mr. Tahir Aldabbagh as a Director in both Companies. The contract is Insurance Premiums. Transaction during 2023, amounted SR 7,160,826 (including VAT), with no preferential conditions. 11- Approved the appointment of Mrs. Abir Abdulelah Kaki as Independent Director starting 28/09/2023 until the end of the current Board Tenure on 25/04/2025 as a successor for Mr. Feras Khalid Aljuraywi (Independent Board Member). 12- Approved amending Wataniya’s Remuneration & Compensation Committee charter. 13- Approved the payment of the Board of Directors Fees for the Financial Year end 31 December 2023 amounted SR. 2,341,178 (Two Million, Three hundred and forty-one Thousand, and one hundred seventy-eight). |
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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