Saudi Reinsurance Co. calls its shareholders to attend the Extraordinary General Assembly meeting which include the Increase of the company’s capital ( 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 its honorable shareholders to participate and vote in the Extraordinary General Assembly Meeting (first meeting) which will be held virtually through means of modern technology scheduled at 6:30 p.m. on Thursday 09/10/2025G corresponding to 17/04/1447H |
| City and Location of the Extraordinary General Assembly's Meeting | Kingdom of Saudi Arabia - Riyadh City - Company’s Head Office – Via Means of Modern Technology using Tadawulaty system. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2025-10-09 Corresponding to 1447-04-17 |
| Time of the General Assembly’s Meeting | 18:30 |
| 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 | The quorum of the meeting of this assembly requires the attendance of a number of shareholders representing at least 50% of the Company's capital, in accordance with the provisions of Article 33 of the Company's bylaws. In the event that this quorum is not available at the first meeting, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting will be valid if attended by a number of shareholders representing at least 25% of the capital. |
| Meeting Agenda | 1. To vote on the Employee Share Program (Long-Term Incentives) approved by the Board of Directors on 17 November 2024G and to authorize the Board of Directors to exercise full powers to allocate shares to employees, administer and manage the program, and make any amendments thereto at its sole discretion.
2. Vote on the recommendation of the Board of Directors to increase the Company's capital through the issuance of 53,980,000 shares as follows:
• Distributing 51,480,000 shares as bonus shares to shareholders by granting 4 shares for each 9 shares, which represents an increase of 44.44% of the company’s capital. • Allocate 2,500,000 additional shares, which represents 2.16% of the Company’s capital, to be allocated to the Company’s employees as per the long-term incentive plan (the “LTIP”) As summarized in the attached ( in the event the first item is approved). • Capital before increase : SAR 1,158,300,000 • Capital after increase : SAR 1,698,100,000 • Total Amount Increased: SAR 539,800,000 • Capital Increase Percentage: 46.6% • Number of shares before increase : 115,830,000 shares • Number of shares after increase : 169,810,000 shares • Reasons for the increase: To support the growth of the company and strengthen its financial position. • The nature and value of the reserves that will be used in the capitalization issue: through the capitalization of SAR 539,800,000 of retained earnings. • Amendment of Article Eight of the Company's Articles of Association related to the Company's capital.
- Eligibility Date: In the event that the shareholders of the Company at the Extraordinary General Assembly Meeting approve the capital increase, the eligibility date of the Bonus Shares for the Company's shareholders registered with the Securities Depository Center Company (Edaa) will be at the end of the second trading day following the day of the Extraordinary General Assembly of the Company. - Details of how to deal with fractional shares: In case of fractional shares, the fractional shares will be collected in one portfolio for all shareholders and sold at the market price, and then their value will be distributed to the shareholders on the date of entitlement, each according to his share, within a period not exceeding thirty days from the date of determining the shares due to each shareholder. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | The shareholder has the right to discuss the topics on the agenda of the Assembly, ask questions, and the right to register attendance for the Assembly meeting ends at the time of the Assembly meeting. Also, the eligibility to vote on the items of the Assembly for those present ends when the counting committee finishes counting the votes. Shareholders can vote remotely on the agenda of the General Assembly through the (electronic voting) service by visiting the Tadawulaty website: www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | All shareholders can vote remotely on the agenda of the Assembly through the service (electronic voting) by visiting the website of Tadawulaty: www.tadawulaty.com.sa
Voting on the items of the meeting will start from 01:00 am on Sunday 05/10/2025G corresponding 13/04/1447H to until the end of the time of the Extra Ordinary General Assembly. |
| Method of Communication in Case of Any Enquiries | For inquiries, please contact the Investors relations department During official working hours from 8 a.m. to 4 p.m. via telephone on +966 11 510 2000 ext. 181 or via email of the Investor relations Department at: [email protected] |
| Additional Information | None |
| Attached Documents | |
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