Saudi Indian Company for Cooperative Insurance (Wafa) Announces the Results of the Ordinary General Assembly (Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Indian Company for Cooperative Insurance (Wafa) announces the Results of the ordinary General Assembly (Second Meeting) by Means of Modern Technology, held at 12:30 AM on Tuesday 15/09/1442 H Corresponding to 27/04/2021 G, after one hour at the end of the period specified for the first meeting (this is due to incomplete quorum required for the first meeting). |
| City and Location of the General Assembly's Meeting | The meeting held via modern technology as part of support for precautions and preventive efforts and measures by the competent and relevant health authorities to counter the corona virus (COVID-19) |
| Date of the General Assembly's Meeting | 2021-04-27 Corresponding to 1442-09-15 |
| Time of the General Assembly's Meeting | 00:30 |
| Percentage of Attending Shareholders | 13.39% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following board members has attended the meeting :
1. Mr. Majid Ahmed Alsuwaigh (Chairman of the Board) 2. Mr. Raad Nasser Al Qahtani (Vice chairman of the Board). 3.Mr. Abdullah Hamdan Al Kanhal 4. Mr. Abdulwahab Ahmed Abed 5. Mr. Hassan Mohamed Al Amri No one was absent |
| 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.Majid Ahmed Alsuwaigh (Chairman of the Executive Committee)
2. Mr. Raad Nasser Al Qahtani (Chairman of Investment Committee) 3. Mr. Abdullah Hamdan Al Kanhal (Chairman of Nomination and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1-Approve the Board’s resolution to appoint Mr. Abdulwahab Ahmed Abed as an (Independent) board member starting from the date of his appointment on 18/10/2020 G. to complete the Board term until the end of the current term on 18/01/2023 G., succeeding the former member Mr. Abdulrahman Issa Alomayem (Independent Member).
2-Approve the Board’s resolution to appoint Mr. Hassan Mohamed Al Amri as an (Independent) board member starting from the date of his appointment on 18/10/2020 G. to complete the Board term until the end of the current term on 18/01/2023 G., succeeding the former member Mr. Haytham Mohamed Yousef (Independent Member).
3-Approve appointing Mr. Abdulwahab Ahmed Abed (Independent Board Member) as Head of Audit Committee, starting from the date of the assembly until the end of the current committee’s term of office on 18/01/2023 G, to succeed the former committee Head Mr. Abdulrahman Issa Alomayem (Independent Board Member).
4-Approve amending the remuneration policy for the Board of Directors and the Board committees.
5-Approve disbursing an amount of (1,104,000) Saudi riyals, as a reward to the members of the Board of Directors for the financial year ending on December 31, 2020. |
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