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BUPA ARABIA FOR COOPERATIVE INSURANCE COMPANY ANNOUNCES THE APPROVAL OF ITS BOARD OF DIRECTORS OF the resignation and appointment of Board members
Bupa Arabia for Cooperative Insurance Company (the Company) announces the approval of the Board of Directors on Monday 8th September 2014G, corresponding to Monday 13 Thw al-Qi,dah 1435H, to the foreign shareholders (Bupa Investment Overseas Limited) request to change two of its representatives, effective 8th September 2014G, due to the previous representatives having left Bupa on the Board and accepted the resignations from the below two Directors, which were submitted on Monday 8th September 2014G, corresponding to Monday 13 Thw al-Qi,dah 1435H effective as of Monday 8th September 2014G, corresponding to Monday 13 Thw al-Qi,dah 1435H:
1. Mr. James Gordon Wheaton (non-Executive Member)
2. Mrs. Elizabeth Alison Platt (non-Executive Member)
to appoint their replacements with the below:
1. Mr. Edward George Fitzgerald Hannan (non-Executive Member)
2. Mr. David Martin FIetcher (non-Executive Member)
The Bupa roles and summary experience of the new Board members being as follows:
1. Mr. Edward George Fitzgerald Hannan is the Bupa International Development Markets Finance Director and prior to joining Bupa was Chief Financial Officer of RSA Insurance Central and Eastern Europe and the Middle East.
2. Mr. David Martin FIetcher is the Bupa International Development Markets Managing Director and prior to joining Bupa was President Director of Permata Bank in Indonesia.
The above changes are subject to the approval of the Saudi Arabian Monetary Agency (SAMA), and an announcement will be made as soon as the SAMA approval has been received. The Chairman and the members of the Board of Directors have expressed their appreciation to the members of the Board of Directors representatives of the foreign partner for their valuable and effective contribution during their period of membership of the Board.
The new members of the Board of Directors will be scheduled for approval by the shareholders at the next General Assembly meeting.
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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