Enaya Refuses to Discharge Board Members from Liabilities for 2023

The Board of Directors of Saudi Enaya Cooperative Insurance Company (“Enaya”) is pleased to announce the results of the Ordinary General Assembly Meeting (the second meeting), held at 19:30 on Sunday, June 6, 2024, after achieving the legal quorum as per the Company’s Bylaws. During the meeting, the assembly did not approve the release of Board members from their liabilities for the year 2023 and also refused to grant them a bonus for the same year.

Meeting details are as follows:

Item (1): Approving the report of the Board of Directors for the fiscal year ending on 31/12/2023.

Item (2): Approving the company’s auditors’ report for the fiscal year ending on 31/12/2023 after discussing it.

Item (3): Approving the financial statements for the year ended 31 December 2023.

Item (4): Non-Approving to absolve the Board of Directors members liability during the year ended 31/12/2023.

Item (5): Approving on appointing the company’s auditors from among the candidates based on the recommendation of the Board of Directors to examine, review, and audit the financial statements for the second, third, fourth and annual quarter of the fiscal year 2024 and the first quarter of the fiscal year 2025 and determine their fees.

Item (6): Non-Approving on the payment of the board members remunerations (1,018,466) for year 2023.

Item (7): Approving on business and contracts concluded between the company and Khaled Ahmed Al-Juffali Company and for which a member of the Board of Directors Mrs. Al-Dana Khaled Al-Juffali has an indirect interest in it which is a medical insurance contract for the company’s employees for a year for 1,133,356 SR. This agreement has no Preferential terms.

Item (8): Approving on business and contracts concluded between the company and Khaled Ahmed Al-Juffali Industrial Company and for which a member of the Board of Directors Mrs. Al-Dana Khaled Al-Juffali has an indirect interest in it which is a medical insurance contract for the company’s employees for a year for 74,016. This agreement has no Preferential terms.

Item (9): Approving on business and contracts concluded between the company and Khalid Ahmed Al-Juffali Construction Company Limited and for which a member of the Board of Directors Mrs. Al-Dana Khaled Al-Juffali has an indirect interest in it which is a medical insurance contract for the company’s employees for a year for 116,570 SR. This agreement has no preferential terms.

Item (10): Approving on business and contracts concluded between the company and Lonsdale and Associates Insurance Brokerage Company, for which a member of the Board of Directors Mrs. Dana Khaled Al-Juffali has an indirect interest in it which is a medical insurance contract for the company’s employees for a year for 278,132 SR. for one year, This agreement has no preferential terms.

Item (11): Approving on business and contracts concluded between the company and KHALID JUFFALI Construction Company Riyadh branch., in which a member of the Board of Directors Mrs. Dana Khaled Al-Juffali has an indirect interest in it, for one year, which is a medical insurance contract for the company’s employees for a year for 120,085 SR. This agreement has no preferential terms.

Item (12): Approving on business and contracts concluded between the company and Lonsdale and Associates Insurance Brokerage Company Riyadh Branch, for which a member of the Board of Directors Mrs. Dana Khaled Al-Juffali has an indirect interest in it which is a medical insurance contract for the company’s employees for a year for 36,208 SR. This agreement has no preferential terms.

Item (13): Approving on business and contracts concluded between the company and Saudi Arabian Cyprus Company., in which a member of the Board of Directors Mrs. Dana Khaled Al-Juffali has an indirect interest in it, which is a medical insurance contract for the company’s employees for a year for 146,605 SR. This agreement has no preferential terms.

Item (14): Approving on the business and contracts that will take place between the company and the Saudi Electronic Computer Company (SBM Ltd) in which a member of the Board of Directors Mrs. Dana Khaled Al-Juffali has an indirect interest in it which is a contract for cybersecurity monitoring services things knowing that the business during The year 2023 amounted to 345K Saudi riyals. This agreement has no preferential term.