Arabia Insurance Cooperative Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Increase (First Meeting) via means of modern technology.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the Arabia Insurance Cooperative Company is pleased to invite the shareholders to attend the extraordinary General Assembly meeting (the first meeting), via means of modern technology using Tadawulaty Platform. |
| City and Location of the Extraordinary General Assembly's Meeting | The Company’s headquarters in Riyadh, Bin Tami Center, King Abdul-Aziz Road. Via means of modern technology |
| URL for the Meeting Location | http://tadawulaty.com.sa |
| Date of the Extraordinary General Assembly's Meeting | 2022-06-29 Corresponding to 1443-11-30 |
| Time of the Extraordinary General Assembly's Meeting | 19:00 |
| Attendance Eligibility | Shareholders Registered at the Depositary Center Registry at the End of the Trading Session Preceding the General Assembly Meeting and as per the Laws and Regulations |
| Quorum for Convening the General Assembly's Meeting | The extraordinary General Assembly meeting shall be valid if it is attended by shareholders representing at least half of the company's capital. If the quorum required for holding this meeting is not available, the second meeting will be held one hour after the end of the period specified for the first meeting. The second meeting shall be valid if attended by shareholders representing at least a quarter of the capital. |
| Meeting Agenda | 1. Voting on the Board’s recommendation to increase the Company’s capital by way of rights issue according to the following:
a. Offering amount: Two hundred and sixty five thousand (265,000,000) Saudi riyals. b. Reasons for and method of increasing the capital: - Reason of capital increase: to support the growth of the Company's business while maintaining the solvency requirements imposed by the Saudi Central Bank. - Method of increasing the capital: Offering and listing of rights shares for Twenty six and five hundred thousand (26,500,000) ordinary shares. c. Eligibility date: If the First Item is approved, eligible shareholders are those holding shares on the day on which the Extra-Ordinary General Assembly will convene and who are registered in the shareholders' registry with the Securities Depository Center Company (“Edaa”) at the end of the second trading day following the eligibility date. • Amending (Article No. 8) of the Company’s bylaws relating to capital (attached). 2. Voting on the amendment of Article (3) of the Company’s Bylaws relating to the Purposes of Company (attached). 3. Voting on the amendment of Article (4) of the Company’s Bylaws relating to the Participation and Acquisition (attached). 4. Voting on the amendment of Article (5) of the Company’s Bylaws relating to Company's Head Office (attached). 5. Voting on the amendment of Article (7) of the Company’s Bylaws relating to the Company's Investments (attached). 6. Voting on the amendment of Article (12) of the Company’s Bylaws relating to the Trading of shares (attached). 7. Voting on the amendment of Article (13) of the Company’s By-Laws relating to the Increasing capital (attached). 8. Voting on the amendment of Article (14) of the Company’s By-Laws relating to the Reducing Capital (attached). 9. Voting on the amendment of Article (15) of the Company’s By-Laws relating to the Company's Management (attached). 10. Voting on the amendment of Article (16) of the Company’s By-Laws relating to the Expiry of Board Membership (attached). 11. Voting on the amendment of Article (17) of the Company’s By-Laws relating to the Membership Vacancy (attached). 12. Voting on the amendment of Article (18) of the Company’s By-Laws relating to the Powers and Authorities of the Board (attached). 13. Voting on the amendment of Article (19) of the Company’s By-Laws relating to the Remuneration of the Board of Directors (attached). 14. Voting on the amendment of Article (21) of the Company’s By-Laws relating to the Meetings of the board (attached). 15. Voting on the amendment of Article (22) of the Company’s By-Laws relating to the Quorum at Meetings and Decisions of the Board (attached). 16. Voting on the amendment of Article (24) of the Company’s By-Laws relating to the Agreements, Contracts and Conflict of Interests (attached). 17. Voting on the amendment of Article (25) of the Company’s By-Laws relating to the Attending Meetings (attached). 18. Voting on the amendment of Article (26) of the Company’s By-Law relating to the Incorporating Assembly (attached) 19. Voting on the amendment of Article (27) of the Company’s By-Laws relating to the Competencies of Incorporating Assembly (attached). 20. Voting on the amendment of Article (28) of the Company’s By-Laws relating to Authorities of the Ordinary General Assembly (attached). 21. Voting on the amendment of Article (30) of the Company’s By-Laws relating to the Invitation of the General Assemblies (attached). 22. Voting on the amendment of Article (32) of the Company’s By-Laws relating to the Quorum at the Ordinary General Meeting (attached). 23. Voting on the amendment of Article (33) of the Company’s By-Laws relating to the Quorum at Extraordinary General Meeting (attached). 24. Voting on the amendment of Article (37) of the Company’s By-Laws relating to Chairing the Assemblies and the Preparation of the Minutes (attached). 25. Voting on the amendment of Article (39) of the Company’s By-Laws relating to the Appointment of the Auditor (attached). 26. Voting on the amendment of Article (43) of the Company’s By-Laws relating to the Financial Documents/Instruments (attached). 27. Voting on the amendment of Article (45) of the Company’s By-Laws relating to the Zakat, Reserve and distribution of dividends (attached). 28. Voting on the amendment of Article (46) of the Company’s By-Laws relating to Maturity of profits (attached). 29. Voting on the amendment of Article (47) of the Company’s By-Laws relating to Losses of the Company (attached). 30. Voting on the amendment of Article (49) of the Company’s By-Laws relating to the Liability of Board Members (attached). 31. Voting on the amendment of Article (50) of the Company’s By-Laws relating to the Dissolution of the Company (attached). |
| Proxy Form |  |
| E-Vote | Shareholders can vote remotely on the General Assembly's agenda through the electronic voting service, which will be available to shareholders registered in the Tadawulaty website starting from (10:00P.M) on (Monady ) 28/11/1443 AH, corresponding to 27/06/2022 until the end of meeting time. Registration and voting in Tadawulaty services will be available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa. |
| Eligibility for Attendance Registration and Voting | Eligibility for Attendance Registration and Voting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | Tel No: 0112153360 or Email: [email protected]. |
| Attached Documents | |
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