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BUPA ARABIA FOR COOPERATIVE INSURANCE INVITES ITS SHAREHOLDERS TO ATTEND THE EXTRAORDINARY GENERAL ASSEMBLY MEETING FOR THE CAPITAL INCREASE

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BUPA ARABIA
-2.53 %
1437/01/22     01/05/2016 09:12:19

The Board of Directors of Bupa Arabia for Cooperative Insurance Company invites the shareholders, who own twenty (20) or more shares in the Company, to attend the Extraordinary General Assembly Meeting to be held on Monday 7th December 2015G, corresponding to Monday 25 Safar 1437H, at 4:00 pm at Bupa Arabia's Jeddah offices, Al-Rawdah Street, Al-Khalediyah District, Jeddah, to consider the following agenda:

Resolution (1): Approve the increase in capital from SR400 million to SR800 million, thereby increasing the total number of shares from 40 million shares to 80 million shares, by issuing 40 million bonus shares through issuing 1 bonus share for every 1 share held, by utilizing SR400 million of the Company's existing retained income reserves, as of 30th June 2015G. The share capital value and the number of shares will therefore both increase by 100%.

The eligibility for these Bonus shares will be limited to the shareholders who are registered in the shareholder's register in the Securities Depository Center (Tadawul) at the close of trading on the date of the extraordinary general assembly meeting day, of Monday 7th December 2015G, corresponding to Monday 25 Safar 1437H. The purpose of increasing the capital is to support the Company's capital base and its future activities.

Resolution (2): Approve the amendments to Article (7) and Article (8) of the by-laws of the Company to reflect the proposed increase in the capital of the Company.

Resolution (3): Authorize the Board of Directors to conclude all requirements necessary to complete the issue of bonus shares to the shareholders, amend the Company's by-laws to reflect the increase in capital, and to fulfill all other regulatory requirements associated with this proposed increase in the capital of the company.

Shareholders that are interested in attending the assembly meeting need to record their names in the attendance registration list at least half an hour prior to the start of the assembly meeting. Those who cannot attend have the right to empower another shareholder, as long as that shareholder is not a Board member of, nor an employee of, Bupa Arabia, and provided they supply identification, verified by an official party. Each verification must be submitted at least three (3) days prior to the assembly meeting. The extraordinary general assembly meeting requires the presence of shareholders with the collective ownership of at least 50% of the Company's overall capital, as per article 32 of the Company's by-laws.

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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Key Parameters
Last Price 239.2
Net Change -6.2 (-2.53%)
Value Traded (Sar) 46,769,901
Volume Traded 192,644
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