Arabia Insurance GA to discuss capital increase by SR265 ‎million

The Board of Directors of the Arabia Insurance Cooperative Company is pleased to invite the shareholders to attend the extraordinary General Assembly meeting (the first meeting), via means of modern technology using Tadawulaty Platform.

Meeting Agenda:

1. Voting on the Board’s recommendation to increase the Company’s capital by way of right issue according to the following:
2. Offering amount: Two hundred and sixty five thousand (265,000,000) Saudi riyals.
3. Reasons for and method of increasing the capital:

– Reason of capital increase: to support the growth of the Company’s business while maintaining the solvency requirements imposed by the Saudi Central Bank.

– Method of increasing the capital: Offering and listing of rights shares for Twenty six and five hundred thousand (26,500,000) ordinary shares.

1. Eligibility date: If the First Item is approved, eligible shareholders are those holding shares on the day on which the Extra-Ordinary General Assembly will convene and who are registered in the shareholders’ registry with the Securities Depository Center Company (“Edaa”) at the end of the second trading day following the eligibility date.
2. Amending (Article No. 8) of the Company’s bylaws relating to capital (attached).
3. Voting on the amendment of Article (3) of the Company’s Bylaws relating to the Purposes of Company (attached).
4. Voting on the amendment of Article (4) of the Company’s Bylaws relating to the Participation and Acquisition (attached).
5. Voting on the amendment of Article (5) of the Company’s Bylaws relating to Company’s Head Office (attached).
6. Voting on the amendment of Article (7) of the Company’s Bylaws relating to the Company’s Investments (attached).
7. Voting on the amendment of Article (12) of the Company’s Bylaws relating to the Trading of shares (attached).
8. Voting on the amendment of Article (13) of the Company’s By-Laws relating to the Increasing capital (attached).
9. Voting on the amendment of Article (14) of the Company’s By-Laws relating to the Reducing Capital (attached).
10. Voting on the amendment of Article (15) of the Company’s By-Laws relating to the Company’s Management (attached).
11. Voting on the amendment of Article (16) of the Company’s By-Laws relating to the Expiry of Board Membership (attached).