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Al-Etihad Cooperative Insurance Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | AL-ETIHAD Cooperative Insurance company announces the results of its Ordinary General Assembly Meeting (First Meeting). |
| City and Location of the General Assembly's Meeting | The Company Head Office in Dhahran - King Fahad Road– (By means of modern technology Using the Tadawulaty Portal) |
| Date of the General Assembly's Meeting | 2025-05-21 Corresponding to 1446-11-23 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 46.73% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members have attended the meeting: 1. Mr. Yousef Saad Al Saad / Chairman of the Board 2. Mr. Naif Saoud Al Turairi / Vice Chairman of the Board 3. Mr. Tareq Fahad Bouresly / Member 4. Mr. Fahad Sulaiman Al Dalali / Member 5. Mr. Eyad Abdulrahman Al Bunyan / Member 6. Mr. Ahmed Abdulrahman Al Mohsen/ Member 7. Mr. Ahmed Yousef Boshnak / Member |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Mr. Yousef Saad Al Saad – Executive Committee Chairman - Investment Committee Chairman 2- Mr. Eyad Abdulrahman Al Bunyan - Nomination & Remuneration Committee Chairman 3- Tareq Fahad Bouresly - Risk Management and cybersecurity - Committee Chairman 4- Mr. Adnan Abdullah Alolayan - Audit Committee Chairman 5- Mr. Shadi shaker Alshabaan - Audit Member |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Board of Directors' report for the year ended December 31, 2024, was reviewed and discussed. 2. Approval on the auditor's report for the year ended December 31, 2024 after discussing it. 3. Financial statements for the year ended December 31, 2024, were reviewed and discussed. 4. Approval on the Discharge of members of the Board of Directors from their liabilities of the year ended December 31, 2024. 5. Approval on disbursing an amount of (1,400,000) riyals as a remuneration to members of the company’s Board of Directors for the fiscal year ending on 31/12/2024 AD. 6. Approval on the recommendation of the Board of Directors to distribute cash dividends in the amount of (30,000,000) riyals to shareholders for the fiscal period (31-12-2024), (0.6 riyals per share), provided that the eligibility is for shareholders who own shares at the end of trading session on the day of the general assembly and who are registered in the company's shareholders register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the general assembly, provided that the distribution of dividends begins on Tuesday 3-6-2025 7. Approval on delegating the Board of Directors with the power of the Ordinary General Assembly with regard to the authorization contained in Paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the conditions stipulated in the executive regulations of the corporate law for listed companies. 8. Approval on appointing the company’s auditors among the candidates based on the recommendation of the Audit Committee, to examine, review, and audit the financial statements for 2nd, 3rd quarters and the annual financial statements for the fiscal year ending on 31/12/2025 AD and the 1st quarter of the financial year ending 31/12/2026 AD and the determination of their total fees of (1,055,000) One million and Fifty Five thousand Saudi Riyal excluding VAT. - PKF AL Bassam Co - Ibrahim Ahmed Al Bassam, - Certified Accountants and Auditors - El Sayed El Ayouti & Co. - Certified Accountants and Auditors |
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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