Walaa Cooperative Insurance Co. announced on Sunday that its Board of Directors has invited shareholders to participate and vote in the Extraordinary General Meeting (first meeting), scheduled to be held on May 20, 2025, via modern technology through the Tadawulaty platform.
According to the company’s statement on Tadawul, the meeting agenda includes:
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Voting on the external auditor’s report for the fiscal year ended December 31, 2024, following discussion.
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Reviewing and discussing the company’s financial statements for the year ended December 31, 2024.
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Reviewing and discussing the Board of Directors’ report for the year ended December 31, 2024.
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Voting on discharging board members from liability for the fiscal year ended December 31, 2024.
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Voting on appointing external auditors from among the nominees, as recommended by the Audit Committee, to audit and review the company’s Q2, Q3, and annual financial statements for 2025, as well as Q1 2026, and determining their fees.
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Voting on the board remuneration of SAR 3,722,500 for the year ended December 31, 2024.
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Voting on the business and contracts with Saudi Telecom Co., in which board member Mr. Jameel Abdullah Al Molhem has an indirect interest. The business involves multiple insurance policies for one year, with total transactions in 2024 valued at SAR 23,630,039. These transactions were conducted on commercial terms without preferential treatment.
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Voting on authorizing the Board of Directors with the powers of the Ordinary General Assembly pursuant to paragraph (1) of Article 27 of the Companies Law, for a one-year term or until the end of the authorized board term, whichever comes first, in accordance with the implementing regulations for listed joint stock companies.
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Voting on electing board members for the new term starting May 26, 2025, and ending May 25, 2028 (CVs attached).
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Voting on amending Article 16 of the company’s bylaws related to management.
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Voting on amending the policy and procedures for appointing board members.
