ACIG GA Elect 10 Members to Board of Directors

Allied Cooperative Insurance Group (ACIG) announced on Monday the results of the Ordinary General Assembly meeting (the first meeting), in which the quorum necessary for its convening was completed, through modern technology, using the Tadawulaty system.The percentage of attending shareholders is 34.12%.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1- Approval on the report of the Board of Directors for the financial year ending on 31 December 2021

2- Approval on the financial statements for the fiscal year ending on 31/12/2021.

3- Approval on the company’s auditors’ report for the fiscal year 31/12/2021.

4- Approval on the business and contracts that took place between the company and Al-Bahar International Company, in which a member of the board of directors, Eng. Muhammad Hani Al-Bakri, has an indirect interest. They are insurance policies for a period of one year, and the total insurance premiums written during 2021 amounted to 108 thousand riyals without preferential terms.

5- Approval of the appointment of auditors for the company, Al-Azm, Al-Sudairi, Al-Sheikh and their partners, chartered accountants and auditors, and Al-Kharashi & Co., chartered accountants and auditors, to examine, review and audit the financial statements for the second, third, fourth and annual quarters of the fiscal year 2022 and the first quarter of the fiscal year 2023, and to determine their fees.

6- Not approval for disbursing an amount of SR1,048,932 as a bonus to the members of the Board of Directors for the fiscal year ending on 31 December 2021.

7- Approval absolve the members of the board of directors from liability for the fiscal year ending on 31December 2021.

8- Ordinary General Assembly decided to elect the members of the Board of Directors for the next session, starting from the date of the meeting and until the end of the session on 17/05/2025.

1- Mr. Yasser bin Muhammad bin Nasser Al Jarallah, representing the Gulf Fortune Holding Company.

2- Mr. Fayez bin Saleh bin Mahfouz, representing the Gulf Fortune Holding Company.

3- Mr. Ali Bin Yahya Ali Al-Jaafari.

4- Mr. Abdulrahman bin Hassan Al-Amoudi.

5- Dr. Khalid bin Majid Al-Rasheed.

6- Mr. Muhammad bin Ibrahim bin Muhammad Al-Rasheed

7- Mr. Abdullah bin Abdul Rahman bin Abdullah Al Al-Sheikh

8- Mr. Abdullah Muhammad Abdullah Al Dalan Al-Qahtani

9- Mr. Mohamed Ibrahim Mohammed AL-Rasheed

10- Mr. Mohammed Jihad Abdulaziz Al-Rasheed

9- approval on the delegation of the Board of Directors’ business from the date of the end of its session on 17-05-2022 until the date of the ordinary general assembly meeting on 05-06-2022