AlAhli Takaful Discusses Merger in the Arabian Shield Cooperative Insurance

18 Nov 2021

Riyadh-Maaal

The Board of Directors of AlAhli Takaful Company is pleased to invite its shareholders to attend the Extraordinary General Meeting (First Meeting) which will be held virtually by the modern technology means using Tadawulaty, on Thursday 09.12.2021.

This is for the safety of the shareholders and to support the efforts and precautionary measures to prevent the spread of Coronavirus (COVID-19) issued by the health ministry and in continuation of support government authorities’ efforts to enforce procedures that prevent the spread of the pandemic in KSA.

General Assembly Meeting Agenda includes:

اقرأ المزيد

Resolution(1): To vote on Arabian Shield Cooperative Insurance Company offer to merge AlAhli Takaful Company into Arabian Shield Cooperative Insurance Company to be effected pursuant to Articles (191) to (193) of the Companies Law, by the issuance of (1.43114769137705) new Arabian Shield Cooperative Insurance Company shares for every share in AlAhli Takaful Company and the dissolution of AlAhli Takaful Company accordingly in accordance with the relevant regulatory requirements and the terms and conditions of the legally binding merger agreement entered into between AlAhli Takaful Company with the Arabian Shield Cooperative Insurance Company on 12.07.2021G. Also, to vote on the following matters related to the merger transaction:.

A- Vote on the terms of the merger agreement entered into between AlAhli Takaful Company and the Arabian Shield Cooperative Insurance Company on 12.07.2021G; and

B- Vote on the authorization of the board of directors of AlAhli Takaful Company to adopt any resolution or take any action as may be necessary to implement any of the above mentioned resolutions.

Resolution(2): To vote on the appoint Mr. Ayed Matar Al- Githami as an Audit Committee Member (Outside Member) replacing Dr. Salah Bakhet AlTalib (Outside Member), to fill the vacant seat starting from 18.07.2021 until the end of the current session of the Audit Committee.