Saudi Reinsurance Company invites its shareholders to attend the Ordinary General Assembly Meeting (First meeting) via means of modern technology
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Reinsurance Company "Saudi Re" is pleased to invite the honorable shareholders to participate and vote in the Ordinary General Assembly Meeting which will be held virtually through means of modern technology scheduled at 20:30 on Sunday 12/05/2024 corresponding to 04/11/1445H. |
| City and Location of the General Assembly's Meeting | Kingdom of Saudi Arabia - Riyadh City - Company’s Head Office – Via Means of Modern Technology |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-05-12 Corresponding to 1445-11-04 |
| Time of the General Assembly’s Meeting | 20:30 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee. |
| Quorum for Convening the General Assembly's Meeting | In order for this assembly to be valid, a number of shareholders representing 25% of the capital is required. If this quorum is not available at the first meeting, a second meeting will be held One hour after the end of the first meeting period. The second meeting shall be valid irrespective of the number of shares represented therein. |
| General Assembly Meeting Agenda | 1. Review and discuss the Directors’ Report of the fiscal year ending on December 31st, 2023.
2. Voting on the auditors’ report of the fiscal year ending on December 31st, 2023.
3. Review and discuss the annual financial statements of the fiscal year ending on December 31st, 2023.
4. Voting to absolve the members of the Board of Directors for the fiscal year ending on December 31st, 2023.
5. Voting on the appointment of the Company’s auditors from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third quarters and annual of the fiscal year of 2024 and the first quarter of year 2025, and determine their fees. (Attached)
6. Voting on reinsurance contracts to be concluded between the company and Probitas Corporate Capital Ltd, in which there is an indirect interest for the Chairman of the Board of Directors Mr. Abdulatif Al-Fozan for his membership in the Board of Directors of Probitas Holding (Bermuda) Ltd, as these are reinsurance contracts without preferential treatment noting that the value of transactions during the financial year ending December 31st, 2023 is 127,986,637 Saudi Riyals. (Attached)
7. Voting on disbursing an amount of 2,157,534 Saudi Riyals as a remuneration to the members of the Board of Directors for the financial year ending December 31st, 2023 |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders have the right to discuss the topics listed in the agenda of the General Assembly and raise relevant questions and inquiries. Shareholders can vote remotely on the General Assembly Meeting’s agenda via (E-voting Service) of Tadawulaty, by clicking on the following link: www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders have the right to discuss the topics listed in the agenda of the General Assembly and raise relevant questions and inquiries. Shareholders can vote remotely on the General Assembly Meeting’s agenda via (E-voting Service) of Tadawulaty, by clicking on the following link: www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | For inquiries, please contact the Investors relations department via telephone on +966 11 510 2000 ext. 181 or via email of the Investor relations Department at: [email protected] |
| Attached Documents | |
Comments