Al Sagr Insurance to discuss dismissing 4 BOD members

Referring to the announcement of Alsagr Cooperative Insurance Company on Tadawul website on 15/6/2022 AD that it had received a letter from some shareholders who own shares representing 5.15% approximately of the company’s capital equesting to hold Ordinary General Assembly Meeting to vote on the dismissal of four members of the current Board of Directors, who are named listed below:

– Mr. Majed Abdullah Alserri (Vice Chairman of the Board of Directors, member of the Executive Committee and the Investment Committee – Non-Executive member)

– Mr. Abdullah Jumah Majed Alserri (Member of the Board of Directors – Non-Executive member)

– Mr. Abdulmohsen Nafeth Jaber (Member of the Board of Directors, member of the Executive Committee and the Investment Committee – Non-Executive member)

– Mr. Sultan Abdulaziz Alswaidi (Member of the Board of Directors, member of the Nomination & Remuneration Committee and the Risk Committee – Non-Executive member)

Alsagr Cooperative Insurance Company would like to announce to its valued shareholders that the above-mentioned shareholders’ request is no longer valid as stipulated in the regulations with a decrease in the ownership percentage below 5%, which according to article 90 of the Companies Law.