Saudi Reinsurance Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Saudi Reinsurance Company Announces the Results of the ordinary General Assembly Meeting, (Second Meeting) due to non-completion of required quorum at the first meeting held at 7:00 pm. The Meeting chaired by the Chairman of the Board Mr. Hesham Abulmalik Al-Alsheik |
| City and Location of the General Assembly's Meeting | The Meeting was held remotely at the company’s head office in the city of Riyadh through means of modern technology. |
| Date of the General Assembly's Meeting | 2022-05-11 Corresponding to 1443-10-10 |
| Time of the General Assembly's Meeting | 20:00 |
| Percentage of Attending Shareholders | 18.89858% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | All the following members of the Board of Directors attended:
1. -Hesham Abulmalik Al-Alsheikh - Chairman 2. -Al-Hussain Mishari Ibrahim Mishari - Vice Chairman 3. -Fahad Abdulrahman AlHesni- MD , CEO 4. -Mohammad Omair Alotaibi 5. -Ahmed Alsabbagh 6. -Jean-Luc Gourgeon 7. -Hussam Alsuwailem 8. -Dr. Peter Hugger 9. -Marc Maupoux |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. Hesham Abulmalik Al-Alsheikh ( Chairman of the Investment Committee )
2. Mohammad Omair A Alotaibi (Chairman of the Risk Management Committee) 3. Jean-Luc Gourgeon (Chairman of the Technical Committee) 4. Marc Maupoux (Chairman of the Nomination and Remuneration Committee) 5. Hesham Ali Al-Aql (Chairman of the Audit Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval on the Board of Directors' report for the financial year ending on December 31, 2021.
2. Approval on the auditors ’report for the financial year ending on December 31, 2021.
3. Approval on the company's financial statements for the financial year ending on December 31, 2021.
4. Approval to discharge the members of Board of Directors from liability for their management of the Company during the financial year ending on December 31, 2021.
5. Approval on the Sustainability and Social Responsibility Policy.
6. Approval on the business and contracts that will be concluded between the company and the "Probitas Corporate Capital" company, in which there is an indirect interest for each of the Chairman of the Board of Directors Mr. Hisham Abdul-Malik Al Al-Sheikh, the Managing Director and CEO, Mr. Fahad Abdulrahman Al-Hesni, and a member of the Board of Directors Mr Jean-Luc Gourgeon for their membership in the Board of Directors of "Probitas Bermuda Holding", the owner of " Probitas Corporate Capital". In addition, a member of the Board of Directors, Mr. Jean-Luc Gourgeon, has an indirect interest in his membership in the board of directors of "Probitas Corporate Capital", which are reinsurance contracts, noting that the value of transactions during the financial year ending December 31st, 2021 is estimated at 193,797,392 Saudi Riyals, without preferential conditions.
7. Approval on the business and contracts that will be concluded between the company and the board of directors of the company Mr.Jean-Luc Gourgeon in it which is to provide consulting services in the field of reinsurance, noting that the value of the contract for the financial year ending December 31st, 2021 amounted to 186,957 Saudi Riyals without conditions Preferential.
8. Approval on disbursing an amount of 1,900,000 riyals as a remuneration to the members of the Board of Directors for the financial year ending December 31, 2021. |
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