Saudi Reinsurance Company invites its shareholders to attend the general assembly meeting (First Meeting) by means of modern technology
The Board of Directors of the Saudi Reinsurance Company "Re" is pleased to invite the honorable shareholders to attend the meeting of the General Assembly meeting (the first and second meeting an hour later) by means of modern technology using the system via the following link: (www.tadawulaty.com.sa), scheduled 21:30 on Tuesday 09/22/1442 corresponding to 04/05/2021, as part of the support of preventive and precautionary efforts and measures by the relevant and competent health authorities to address the new Coronavirus (COVID-19) and as an extension of the continuous efforts that It is used by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread.
City and Location of the General Assembly's Meeting:
4130 North Ring Road, Al-Wadi district, Riyadh 13313
Link to the venue of the meeting:
www.tadawulaty.com.sa
Electronic voting
Shareholders registered in my Tadawulaty services can vote on the items of the association starting from 10 a.m. on Friday 18/09/1442H corresponding to 30/04/2021 until the end of the general assembly, and registration and voting on Tadawulaty will be available and free for all shareholders using the following link: www.tadawulaty.com.sa
Date of the General Assembly's Meeting:
22/09/1442 H – 04/05/2021.
Time of the General Assembly's Meeting:
21:30
Attendance Eligibility:
Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre at the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations
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:
- Voting on the Board of Directors' report for the fiscal year ending on December 31, 2020 AD.
- Voting on the auditors ’report for the fiscal year ending on December 31, 2020
- Vote on the company's financial statements for the fiscal year ending on December 31, 2020
- Vote to discharge the members of Board of Directors from liability for their management of the Company during the fiscal year ending on December 31, 2020.
- Vote on the appointment of the company’s auditor 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 and annual quarters of the fiscal year 2021 and the first quarter of 2022, and determine their fees.
- Voting 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 "Propetas 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 2020 is estimated at 161,168,533 riyals, without preferential conditions.
- Voting on the business and contracts that were concluded between the company and the Saudi Ashmoor Investment Company, in which the Chairman of the Board of Directors Mr. Hisham Abdulmalik Al Sheikh has an indirect interest in it due to his membership in its Board of Directors, and it is a participation in a general murabaha investment fund, noting that the value of the fees for the year 2020 is estimated For 181,602 riyals, without preferential terms.
- Voting on the business and contracts that will be concluded between the company and the JLG Consulting Company, in which a member of the board of directors of the company / Jean-Luc Gourgeon has a direct interest in it which is to provide consulting services in the field of reinsurance, noting that the value of the contract for the year 2020 amounted to 164,773 riyals without conditions Preferential
- Voting on the business and contracts that have been concluded between the company and the Iskan Insurance Company (Egypt) in which a member of the Board of Directors Mr. Hammam Muhammad Hammam Badr has an indirect interest in it as its Chairman of the Board of Directors x, which are reinsurance contracts for a period of one year with a value of 1,083,546 riyals, without preferential conditions
- Vote on disbursing an amount of 1,859,178 riyals as a remuneration to the members of the Board of Directors for the fiscal year ending 12/31/2020.
Method of Communication:
For inquiries, please contact the Investors relations department on +966115102000 ext. 181
Also you can direct your inquiries to the email of the investor relations department on:
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General Assembly Meeting Agenda:
- Voting on the Board of Directors' report for the fiscal year ending on December 31, 2020 AD.
- Voting on the auditors ’report for the fiscal year ending on December 31, 2020
- Vote on the company's financial statements for the fiscal year ending on December 31, 2020
- Vote to discharge the members of Board of Directors from liability for their management of the Company during the fiscal year ending on December 31, 2020.
- Vote on the appointment of the company’s auditor 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 and annual quarters of the fiscal year 2021 and the first quarter of 2022, and determine their fees.
- Voting 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 "Propetas 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 2020 is estimated at 161,168,533 riyals, without preferential conditions.
- Voting on the business and contracts that were concluded between the company and the Saudi Ashmoor Investment Company, in which the Chairman of the Board of Directors Mr. Hisham Abdulmalik Al Sheikh has an indirect interest in it due to his membership in its Board of Directors, and it is a participation in a general murabaha investment fund, noting that the value of the fees for the year 2020 is estimated For 181,602 riyals, without preferential terms.
- Voting on the business and contracts that will be concluded between the company and the JLG Consulting Company, in which a member of the board of directors of the company / Jean-Luc Gourgeon has a direct interest in it which is to provide consulting services in the field of reinsurance, noting that the value of the contract for the year 2020 amounted to 164,773 riyals without conditions Preferential
- Voting on the business and contracts that have been concluded between the company and the Iskan Insurance Company (Egypt) in which a member of the Board of Directors Mr. Hammam Muhammad Hammam Badr has an indirect interest in it as its Chairman of the Board of Directors x, which are reinsurance contracts for a period of one year with a value of 1,083,546 riyals, without preferential conditions
- Vote on disbursing an amount of 1,859,178 riyals as a remuneration to the members of the Board of Directors for the fiscal year ending 12/31/2020.