Amana Insurance GA to vote on business, contracts with concerned parties

The Board of Directors of Amana Cooperative Insurance Company is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly Meeting (First meeting), that will be held 7:00 PM. on Thursday 01/12/1443H (Corresponding to 30/06/2022G) conducted through modern technology.

General Assembly Meeting Agenda:

1. To vote on the auditor/s report on the Company’s accounts for the fiscal year end 31/12/2021 G
2. To vote on the financial statements for the fiscal year end 31/12/2021 G.
3. To vote on the Board of Directors’ report for the fiscal year end 31/12/2021 G.
4. To vote on absolving the Board of Directors of their responsibility for managing the Company for the fiscal year end 31/12/2021G.
5. To vote on appointing the auditors for the Company from among the candidates based on the Audit Committee’s recommendation. The appointed auditors shall examine, review and audit the second, third, and fourth quarter and annual financial statements, of the fiscal year 2022G, and the first quarter of the fiscal year 2023G, and the determination of the auditors’ remuneration.
6. To vote on paying an amount of SAR (643,500) as remuneration to the Board & Committee members for the fiscal year end 31/12/2021G.
7. To vote on the amendments of the Remuneration & Nomination Committees’ Charter (attached).
8. To vote on the Remuneration of the Board of Directors and Committees’ Policy (attached).
9. To vote on the Remuneration of the Executive Management Policy (attached).
10. To vote on the business and contracts concluded or that will be concluded between the Company and Alsaif Group Company, in which the Board members Mr. Naif Alsudairy and Mr. Abdulrahman Alsakran have an indirect interest. These businesses and contracts for previous year 2021 are multiple annual insurance policies and claims of SAR (5,931,000) without special conditions or benefits
11. To vote on the business and contracts concluded or that will be concluded between the Company and Mr. Abdulrahman Alsakran, in which the Board member Mr. Abdulrahman Alsakran has a direct interest. These businesses and contracts for previous year 2021 are multiple annual insurance policies of SAR (10,000) without special conditions or benefits.
12. To vote on the business and contracts concluded or that will be concluded between the Company and GlobeMed Saudi, in which the Board members Mr. Naif Alsudairy, Mr. Pierre Pharaon and Mr. Abdulrahman Alsakran have an indirect interest. This business and contract is medical claims management contract for year 2021 of SAR (5,180,000) without special conditions or benefits.

The shareholders may remotely vote on the General Assembly Meeting’s agenda via (E-voting service) through Tadawulaty website www.tadawulaty.com.sa. The remote voting will start on Sunday 26/06/2022G at (10:00) AM, and the voting will end once the General Assembly ends. Please note that registration in Tadawulaty service and voting is provided free of charge.

Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes.

The Ordinary General Meeting of shall be held in the presence of shareholders representing 25% of the company’s capital. In case of non-completion of the quorum at the first meeting, a second meeting will be held within one hour of the scheduled time for the first meeting. The second meeting shall be valid if attended by shareholders representing any percentage of the company’s capital.

Additional Information:

Amana Cooperative Insurance Company circulate to the shareholders the Audit Committee’s Report for year 2021 as attached.