SABB Takaful Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | SABB Takaful announces the Ordinary General Meeting results (First Meeting), the OGM conducted Online at 08:30 PM Monday 13 June 2022. The meeting conducted Online because of the Capital Market Authority’s circular dated 16 March 2020 AD which suspended attending the meeting in presence until further notice but shareholders can participate via new technology media (Tadawulaty). Where the Quorum completed enough to hold the meeting with attendance percentage of 66.86% |
| City and Location of the General Assembly's Meeting | The Ordinary General Assembly Meeting was held through new technology media where the shareholders are able to participate and vote for the agenda listed in the meeting online. These procedures were done in order to support prevention efforts from authorized organizations to avoid spreading (Covid-19). |
| Date of the General Assembly's Meeting | 2022-06-13 Corresponding to 1443-11-14 |
| Time of the General Assembly's Meeting | 20:30 |
| Percentage of Attending Shareholders | 66.86% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members attended the meeting:
1- Mr. Mohammed Abdulaziz Alshayea (Chairman ( 2- Mr. Feras Abdulaziz Abalkhail (Board member) 3- Mr. Ayman Wajeeh Altaweel (Board member) 4- Mr. Salman Ahmad Akbar (Board member) 5- Mr. Faris Fehied Alshareef (Board member) 6- Mrs. Maha Mohammad Alsudairi (Board member)
Absentee: The Board Member Mr. Yasir Ali Albarrak didn’t attend the meeting due to personal reason. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The following chairman’s of committees and other member attended the meeting:
1- Mr. Salman Ahmad Akbar (Audit Committee Chair) 2- Dr. Abubaker Bagabir (member of the Audit Committee) 3- Mr. Feras Abdulaziz Abalkhail (Nomination and Compensation Committee Chair) 4- Mr. Mohammed Abdulaziz Alshayea (Executive Committee chair) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approved the Board of Directors Report for the fiscal year ended on December 31, 2021
2- Approved External Auditors' Report for the fiscal year ended on December 31, 2021. 3- Approved the Financial Statements for the fiscal year ended on December 31, 2021 4- Approved the discharge of the Board of Directors members for the fiscal year ended on December 31, 2021. 5- Approved the appointment and determining the fees of External Auditors for the company, AlKharashi & Co. Certified Accountants and Auditors and Ibrahim Ahmad Al Bassam & Co. (Albassam&Co.) from among the candidates nominated based on the recommendation of the Audit Committee to review and audit financial statements of the second, third quarter and the year of 2022 and first quarter of 2023. 6- Approved the Board members from among the candidates for the next term, starting from 13-06-2022 for a term of three years, ending on 12-06-2025 Mr. Mohammed Abdulaziz Alshayea ( Mr. Feras Abdulaziz Abalkhail Mr. Ayman Wajeeh Altaweel Mr. Salman Ahmad Akbar Mr. Faris Fehied Alshareef Ms. Maha Mohammad Alsudairi Mr. Mohammed Abdulrahman Almousa 7- Approved the appointment of Audit Committee members for the new term starting on 13-06-2022, for 3 years period ending on 12-06-2025. and it’s working charter, its responsibilities, and its compensation.. Members are as follow: Mr.Salman Ahmed Mr.Abubaker Bagabir Dr.Khalid Althukair Mr.Fayez AlZaydi 8- Approved the delegation of the General Assembly’s authorization powers stipulated in Paragraph (1) of Article 71 of the Companies Law to the Board of Directors, for a period of one year from the date of approval by General Assembly or until the end of the Board of Directors’ term, whichever occurs first, in accordance with the conditions set forth in relevant regulations and procedures issued pursuant to the Companies Law. 9- Approved the Board of Directors businesses during the end of the Board of Directors period on 14-05-2022 until the General Assembly Meeting on 13-06-2022. |
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