The Company for Cooperative Insurance Announces the Results of the Extraordinary General Assembly Meeting which includes an increase of the company’s capital (First Meeting).
| Element List | Explanation |
|---|---|
| Introduction | Tawuniya Board is pleased to announce the results of the Extraordinary General Assembly Meeting which includes the increase of the company’s capital (First Meeting) |
| City and Location of the Extraordinary General Assembly's Meeting | Riyadh, Tawuniya headquarters - Via modern technology means (Online). |
| Date of the Extraordinary General Assembly's Meeting | 2026-09-03 Corresponding to 1448-03-21 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 58.43 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following board members attended the meeting: 1. Mr. Abdulaziz Ibrahim AlNowaiser 2. Mr. Selman Fares AlFares 3. Ms. Hessa Abdolmohsen AlSheikh 4. Dr. Khaled Abdulaziz AlGhunaim 5. Mr. Marwan Edah Alghamdi 6. Mr. Abdulaziz Mohammed AlSedeas 7. Dr. Yousef Obaid Alharbi 8. Dr. Abdullah Suliman Alamro 9. Mr. Abdulsalam Nasser Abaoud No one was absent |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | The following Committee’s Chairmen attended the General Assembly's Meeting: 1- Mr. Abdulaziz Ibrahim AlNowaiser (Executive Committee Chairman) 2- Mr. Marwan Edah Alghamdi (Investment Committee Chairman) 3- Mr. Abdulaziz Mohammed AlSedeas (Audit Committee Chairman) 4- Mr. Abdulsalam Nasser Abaoud (Risk Committee Chairman) 5- Dr. Yousef Obaid Alharbi (Nomination and Remuneration Committee Chairman) 6- Dr. Khaled Abdulaziz AlGhunaim (Digital Transformation Committee Chairman) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's (Including a detailed breakdown for each resolution, of the percentage of votes cast in approval, non-approval, and abstentions) | 1- Approval of the recommendation of the Board of Directors to increase company's capital by granting bonus shares to shareholders with a value of SAR 750,000,000, and amendment of article number (8) and article number (9) of the Company's Articles of Association as follows: • Nominal value of the capital before the increase: (1,500,000,000) Saudi Riyals. • Nominal value of the capital after the increase: (2,250,000,000) Saudi Riyals. • Capital increase rate: 50%. • Number of shares before the increase: (150,000,000) shares. • Number of shares after increase: (225,000,000) shares. • Reasons and methods for increasing capital: Strengthening the capital base of the company, which contributes to increasing the rates of growth and expansion of its business during the coming years, and the value of the capital increase will be financed by capitalizing part of the retained earnings balance in the amount of (750) million riyals. • Number of shares granted for each share: Granting (1) share for every (2) shares owned. • Eligibility Date: the eligibility of bonus shares shall be for shareholders owning the shares by the end of trading day of the General Assembly meeting and are registered in the Company’s Shareholders Registry at the Securities Depository Center (Edaa) by the end of the second trading day following the Extraordinary General Assembly meeting date. • Amendment of Article (8) of the Company's Articles of Association related to (Capital). • Amendment of Article (9) of the Company's Articles of Association related to (Shares Subscription). • Percentage of Approving Votes: 99.23% • Percentage of Non-Approving Votes: 0.01% • Percentage of Abstaining Votes: 0.76% 2- Approval of the business relationship between the Company and General Organization for Social Insurance which Board members Mr. Salman Al Fares, Mrs. Hessa Al Sheikh have an indirect interest. Businesses related to other services fees (non-insurance). Note that transactions up to the end of the fourth quarter of 2025 amounted to 85,740,493 SAR without any preferential treatment. • Percentage of Approving Votes: 67.68% • Percentage of Non-Approving Votes: 17.37% • Percentage of Abstaining Votes: 14.95% |
| Additional Information | For any inquiries, please contact the Company's Investor Relations department during official working hours at: Phone: 0112526682 Or via email: IR@tawuniya.com |
Comments