BUPA Insurance GA to discuss distributing SR4.5/share profits for 2021

The Board of Directors of Bupa Arabia for Cooperative Insurance Company (Bupa Arabia) hereby cordially invites the shareholders to attend, participate and vote in the Extraordinary General Assembly meeting, which will be held virtually through the modern technology means on Thursday 30th June 2022G, at 18:30, corresponding to 01-12-1443H using Tadawulaty System.

General Assembly Agenda included voting on the recommendation of the Board of Directors to distribute cash dividends for the fiscal year 2021G, (4.50) Saudi Riyal per share in a total amount of (540,000,000) Saudi Riyal, or 45% of the nominal share value, provided that the shareholders owning the shares are eligible at the end of the trading day of the General Assembly meeting and those registered in the company’s shareholders’ register with the Securities Depository Center Company (Edaa Center) at the end of the second trading day following the approval date, the Dividend distribution date will be announced later.

Also voting on the approval of purchasing Long-Term Incentive Plan (“LTIP”) shares to a maximum value of SR17,551,122 to a maximum number of shares of 175,000, the purchase will be financed through company’s fund for its entitled LTIP employees. Further, to authorize the Board of Directors to complete the purchase of the shares within (12 months) from the date of the Extraordinary General Assembly Meeting’s Approval. The purchased shares will be kept no longer than (10 years) from the date of approval until its allocated for the entitled employees. Noting that this program is a continuation of the current program, the conditions of which were previously determined by the Board of Directors, and the approval of the Extraordinary General Assembly was obtained on 12/08/1438 AH corresponding to 08/05/2017G.

The quorum for holding the Extraordinary General Assembly meeting is 50% of the company’s capital overall, as per Article 32 of the Company’s By-Laws. In the absence of a quorum required for holding the meeting, a second meeting can be held one hour after the end of the period specified for the first meeting. The second meeting shall be valid if attended by shareholders representing at least 25% of the company’s capital.

Shareholders registered at the Edaa Center Registry at the end of the trading session preceding the General Assembly meeting can use the electronic attendance registration and voting using the Tadawulaty system at the assembly meeting and as per the laws and regulations.

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 agenda of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes.