Saudi Enaya Cooperative Insurance Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Decrease ( First Meeting )(Reminder Announcement)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Enaya Cooperative Insurance Company is pleased to invite our valued shareholders to attend the Extraordinary General Assembly meeting that includes reducing the company’s capital (the first meeting) by using a modern technology (Tadawlaty System) based on the circular of the Capital Market Authority to call for the General Assemblies of the listed companies via modern technology (remotely) without attending until further notice. This is in order to ensure the safety of the clients in the financial market and to support the preventive and precautionary efforts and procedures by the relevant and health authorities to prevent the new Corona virus (COVID-19), and continuously the efforts made by all government authorities in the Kingdom of Saudi Arabia in taking the necessary preventive procedures to prevent its spread |
| City and Location of the Extraordinary General Assembly's Meeting | Headquarter, Price Sultan St. Saudi Enaya Office |
| URL for the Meeting Location | https://goo.gl/maps/xJETNAtA7yx |
| Date of the Extraordinary General Assembly's Meeting | 2020-04-22 Corresponding to 1441-08-29 |
| Time of the Extraordinary General Assembly's Meeting | 20:00 |
| Attendance Eligibility | For each shareholder registered in the company’s shareholders, registered at Edaa by the end of the trading day before the meeting of the Assembly, should register the electronic attendance and vote using the Tadawulaty system in the Assembly meeting and according to the rules and regulations |
| Quorum for Convening the General Assembly's Meeting | The Extraordinary General Assembly meeting is valid if shareholders representing half of the company's capital are presented, but if the quorum is not presented to hold this meeting, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting will be valid if attended by shareholders who represent at least quarter of the capital. |
| Meeting Agenda | 1-Voting on the company’s Board of Directors recommendation to reduce the company’s capital to become as follows:
A- The company's capital before the reduction is 300,000,000 SAR, the capital after the reduction is 150,000,000 SAR, with a reduction of 50% of the company's capital B- The number of shares before the reduction 30,000,000, the number of shares after the reduction 15,000,000 shares C-The reason for reducing the capital: write down accumulated losses with 150,000,000 SAR D-The capital reduction method: canceling 15,000,000 shares of the company, (1) shares will be reduced for every (2) shares E-The effect of capital reduction on the company's obligations: There is no major impact from reduction the company's capital on its financial obligations F-Reduction date: If the company’s shareholders in the Extraordinary General Assembly meeting agreed to reduce the capital, the reduction decision will be enforced on all the company’s shareholders registered in the company’s records with the Securities Depository Center Company (Edaa) at the end of the second trading day following the Extraordinary General Assembly that decides to reduce the capital. G-Amendment to Article (8) of the company’s bylaw, which related to the capital (attached) |
| Proxy Form |
| -Vote | The Shareholders registered in Tadawulaty Services will be able to vote remotely on the Assembly’s articles starting from 10am on Saturday 25-08-1441H corresponding 18-04-2020 until the end the Assembly meeting, registration and voting in Tadawulaty Services available and free for all shareholders in 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 | If there are any inquiries, contact the shareholder relations management company via e-mail [email protected] or call 0125923633 |
| Attached Documents |  |
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