ADDENDUM ANNOUNCEMENT FROM BUPA ARABIA FOR COOPERATIVE INSURANCE CO. RELATED TO THE BOARD OF DIRECTORS RECOMMENDATION TO INCREASE THE COMPANY'S CAPITAL THROUGH BONUS SHARES.
With reference to the Company's announcement dated 15th April 2018G, corresponding to 29 Rajab 1439H, relating to the recommendation of its Board of Directors, to the General Assembly, subject to the obtaining of all required approvals from all the concerned authorities, to increase the capital of the Company through bonus shares, Bupa Arabia for Cooperative Insurance announces receiving SAMA's no-objection for the proposed capital increase. The SAMA no-objection was received on 17th April 2018G, corresponding to 1 Sha'ban 1439H, through SAMA letter reference 39100084647.
The Company will be submitting its application to the Capital Market Authority (CMA) and completing any other regulatory approvals and processes in due course.
The proposed increase in capital will only be initiated once all necessary approvals are received from all the required official authorities, as well as subject thereafter to the approval from the shareholders in the Extraordinary General Assembly Meeting (EGM), and the EGM date will be announced at a later stage.
The Capital Market Authority and the Saudi Stock 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.