October 5… Buruj GA votes on formation of audit committee, defining tasks, work controls, and remuneration of members

The Board of Directors of Buruj Cooperative Insurance Company invited the shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held via modern technology, on Wednesday 05/10/2022.

It added that the 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.

According to Article (32) of the company’s articles of association, the ordinary general assembly meeting is valid if attended by shareholders representing at least 25% of the capital. If the necessary quorum is not available to hold this meeting, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting will be valid regardless of the number of shares represented there.

General Assembly Meeting Agenda:

1. Voting on the formation of the Audit Committee and to define its tasks, rules of work and remuneration of its members starting from the date of the assembly’s convening 05/10/2022 until the end of the term on 08/03/2025. Noting that the candidates are:
2. Bader M Aleisa
3. Mishaal A Al Sulaiman
4. Mohammed A Jaber
5. Voting on amending Corporate Governance Manual
6. Voting on amending Board Charter
7. Voting on amending Policy and Procedures for Nomination and Membership in the Board of Directors
8. Voting on amending Audit Committee charter
9. Voting on amending Nomination and Remuneration Committee charter
10. Voting on amending Risk Management Committee Charter
11. Voting on amending Remuneration policy

Shareholders registered in Tadawulaty services can vote remotely on the items of the assembly, starting from one o’clock in the morning on Sunday 02/10/2022 until the end of the meeting time.

The eligibility for registering the attendance of the General Assembly’s Meeting ends upon the convenience of the General Assembly’s Meeting. The eligibility for voting on the business of the Meeting Agenda ends upon the counting committee concludes counting the votes.