AICC discusses amending company’s corporate governance regulations on May 15

Arabia Insurance Cooperative Company (AICC) Board of Directors invited its shareholders to attend the Ordinary General Assembly’s meeting of AICC, which will be conducted virtually via Tadawulaty Platform, by Means of Modern Technology on 15-5-2023.

General Assembly Meeting Agenda

1. Review and discuss the Company’s financial statements for the fiscal year ending on 31/12/2022.

2. Voting on the Company’s external auditor report for the fiscal year ending on 31/12/2022 after discussing it.

3. Review and discuss the Board of Directors Report for the fiscal year ending on 31/12/2022.

4. Voting on releasing the Board of Directors Members from their liability for the fiscal year ending on 31/12/2022.

5. Voting on amendment of the company’s Corporate Governance regulation. (Attached)

6. Voting on amendment of the company’s Audit committee regulation. (Attached)

7. Voting on delegating the Ordinary General Assembly’s authorisation powers stipulated in paragraph (1) of Article (27) of the Companies Law to the Board of Directors for a period of one year effective from the date of approval of the Ordinary General Assembly or until the end of the term of the delegated Board, whichever is earlier, pursuant to the terms mentioned in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. 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. Each shareholders have the right to discuss the topics on the agenda of the assembly and direct their inquiries.

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.