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Gulf General Cooperative Insurance Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Gulf General Cooperative Insurance Company announces the results of the Ordinary General Assembly meeting (the second meeting), which was held at 07:30 pm on Wednesday, 03/12/1444 AH, corresponding to 21/06/2023 AD, through means of modern technology, that's an hour after the scheduled time for the first meeting because the quorum for the first meeting was not completed according to the company’s bylaws. |
| City and Location of the General Assembly's Meeting | Company’s headquarters in Jeddah through means of modern technology. |
| Date of the General Assembly's Meeting | 2023-06-21 Corresponding to 1444-12-03 |
| Time of the General Assembly's Meeting | 19:30 |
| Percentage of Attending Shareholders | 19.02% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | All Board of Directors attended the meeting, and they were: Mr. Jamal Abdullah AlDabbagh Mr. Saud Abdulaziz AlSulaiman Mr. Mohamed Husnee Jazeel Mr. Majed Diaauddin Kareem Mr. Taher Mohammed Omar Agueel Mr. Mohammadzaher Salahuddin Almunajjed Dr. Faisal Adnan Baassiri Dr. Ahmed Siraj Khogeer Dr. Abdulwahab Mossab Abukwaik |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Jamal Abdullah AlDabbagh - Chairman of the Executive Committee. Mr. Saud Abdulaziz AlSulaiman - Chairman of the Investment Committee. Mr. Mohammadzaher Salahuddin Almunajjed – Chairman of the Risk Management Committee. Dr. Faisal Adnan Baassiri- Chairman of the Nomination and Remuneration Committee. Dr. Ahmed Siraj Khogeer - Member of the Audit Committee. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Board of Directors' report for the fiscal year ending on 31/12/2022 AD was viewed and discussed. 2. The financial statements for the fiscal year ending on 31/12/2022 AD was viewed and discussed. 3. Approval of the auditors’ report on the Company’s accounts for the fiscal year ending on 31/12/2022 AD. 4. Approval of appointing the auditors for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditors shall examine, review and audit the second quarter, third quarter, and annual financial statements of the fiscal year ending 2023 AD, and the first quarter of the fiscal year 2024 AD, and the determination of the auditors’ remuneration and they are: • KPMG Al Fozan and Partners • Ibrahim Ahmed Al-Bassam & Co. 5. Approval of the business and contracts that will be concluded between the company and (Al-Dabbagh Group), in which the Chairman of the Board of Directors Mr. Jamal Abdullah Al-Dabbagh has a direct interest, as he is the owner of this group, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2022 AD were insurance premiums underwritten in the amount of 8,010,000 Riyals. 6. Approval of the business and contracts that will be concluded between the company and (Rolaco Group), in which the Vice Chairman of the Board of Directors Mr. Saud Abdulaziz Al-Sulaiman has a direct interest, as he is the owner of this group, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2022 AD were insurance premiums underwritten in the amount of 133,000 Riyals. 7. Approval of the business and contracts that will be concluded between the company and (Raghf Catering Services Company), in which the Board Member Mr. Majed Diaauddin Kareem has a direct interest, as he is the owner of this Company, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2022 AD were insurance premiums underwritten in the amount of 18,000 Riyals. 8. Approval of the discharge of the Directors from their liabilities for the fiscal year ending on 31/12/2022 AD. 9. Approval of paying an amount of (SAR 1,200,000) as remuneration to the Board members for the fiscal year ending on 31/12/2022 AD. |
| Additional Information | There is no additional information |
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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Last Price 5.5
Net Change 0.01 (+0.18%)
Value Traded (Sar) 997,203.01
Volume Traded 181,345
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