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BUPA ARABIA FOR COOPERATIVE INSURANCE INVITES ITS SHAREHOLDERS TO ATTEND THE ORDINARY GENERAL MEETING ASSEMBLY (To be continued)

8210
BUPA ARABIA
-0.16 %
1434/05/01     13/03/2013 09:59:50

d) In accordance with the approval of the Ordinary General Assembly Meeting held on 19/09/1430 H, 9/09/2009 G, which authorised the Company to enter into a Brand Licence Agreement with Bupa or its relevant subsidiary, and authorised the Board to approve the terms and conditions of such agreement, including the financial consideration payable to the licensing company, during 2010 the Company entered into an agreement with the related party, Bupa Middle East Holdings Two W.L.L., a joint venture company owned fifty per cent by each of Nazer Group Limited and Bupa Investments Overseas Limited, for obtaining a license to use the trade marks (the word Bupa with or without logo) of the related party. As per the terms of the agreement the related party receives an amount equal to a fixed percentage of gross premiums earned, subject to a maximum of 5% of the Companys profits in any financial year, as trade mark fee. During 2012 the trade mark fee payable amounted to SR2,130k, as well as continued services, and associated fees, until the end of 2013.

Resolution (6):Approve the recommendation of the Board of Directors of the proposed adjustments to the terms of references of the following Board committees:

a) The Audit Committee.

b) The Nomination and Remuneration Committee.

c) The Executive Committee.

d) The InvestmentCommittee.

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 243.4
Net Change -0.4 (-0.16%)
Value Traded (Sar) 18,649,570.4
Volume Traded 76,349
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