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BUPA ARABIA FOR COOPERATIVE INSURANCE COMPANY ANNOUNCES THE RESIGNATION OF A BOARD MEMBER AND THE APPOINTMENT OF A BOARD MEMBER
Bupa Arabia for Cooperative Insurance Co. announces:
The submission of the resignation of Mr. Aamer Alireza, as Non-Executive Board Member, representing the major Saudi shareholder, Nazer Group Company Limited, on 24 July 2018G, effective 30 September 2018G, and having been accepted by the Board on 16 September 2018G, due to the major shareholders wanting to change their Board member representatives, and;
In addition, the appointment of Mr. Martin Houston, as Non-Executive Board Member, representing the foreign shareholder, Bupa Investments Overseas Limited (BIOL), effective 1 October 2018G, as approved by the Board on 16 September 2018G, due to the major shareholders wanting to change their Board member representatives, and;
That the new Board member appointment is subject to the approval of the shareholders in the next General Assembly meeting, which will be advised at a later date, and;
That Mr. Martin Houston is based in the USA and is a non-executive director, appointed in January 2014, of the main Board of Bupa, the international healthcare group based in London, England, which owns the Bupa Arabia major shareholder BIOL.
Mr. Martin is also the Vice-Chairman of Tellurian Incorporated, the Vice-Chairman of Hakluyt North America and, in March 2018, was appointed by Moelis and Company as the Chairman of its Global Energy Group.
Mr. Martin Houston has a Bachelor's degree in Geology, from the Newcastle University, England, UK, in 1979, and then a Master's in Petroleum Geology from the Imperial College London, England, UK in 1983.
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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