United Cooperative Assurance Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
|Introduction||The United Cooperative Assurance Company announces the Ordinary General Meeting’s results (First Meeting), which was held at 19:30 PM on Sunday 14 Dhu Alhija 1444H Corresponding to 02 July 2023 through modern technology.|
|City and Location of the General Assembly's Meeting||The Company’s Ordinary General Assembly Meeting was held through modern technology means from the Company’s Head Office in Riyadh- Bin Saeedan Tower, King Fahad Road- AlMarooj District.|
|Date of the General Assembly's Meeting||2023-07-02 Corresponding to 1444-12-14|
|Time of the General Assembly's Meeting||19:30|
|Percentage of Attending Shareholders||43.82|
|Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees||The following Board members have attended the meeting: |
1. Khaled Ahmed AlHamdan (The Vice Chairman of the Board)
2. Mohammed Abdullah AlYahya
3. Mansour Abdulaziz AlSaghayer
4. Bahaa Aldeen Khashogji
Apologized for the attendance :
Khaled Hussein Alireza (The Chairman of the Board)
|Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf||1. Mohammed Abdullah Al Yahya. (Chairman of the Audit Committee). |
2. Mansour Abdulaziz Al Saghayer. (Chairman of the Investment Committee).
3. Bahaa Aldeen Khashogji. (Chairman of the Risk Committee)
4. Khaled AlHamdan ( Chairman of the Nomination & Remuneration Committee).
|Voting Results on the Items of the General Assembly's Meeting Agenda's||1. View and discuss the Board of Directors’ report for the fiscal year ending on 31 December 2022. |
2. Approve the report of the Company’s auditor for the financial year ending on 31 December 2022.
3. View and discuss the Financial Statements for the fiscal year ending on 31 December 2022.
4. Approve the discharge of the Board of Directors members liabilities for the fiscal year ended on 31 December 2022
5. Approve the Policies & Procedures for the Selection and Appointment of the Directors and the Committees Members.
6. Approve the delegating to the Board of Directors the authorization powers of the General Assembly as stipulated in paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the delegated Board of Director's term, whichever is earlier, in accordance with the conditions contained in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.
7.Approve the appointment of Ibrahim Ahmed Albassam & Partners (PKF) and Crowe Global/ AlAzemm AlSudairy, AlShaikh & Partners as the Company’s External Auditors from among the candidates, based on the Audit Committee’s recommendation, to examine, review and audit the financial statements for Q2, Q3 and annual financial statements for the year 2023, As well as Q1 of the year 2024 and determining their fees.
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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