News & Announcements

ACIG

26 June, 2024 08:03

Allied Cooperative Insurance Group Announces the Results of the Ordinary General Assembly Meeting, (Second Meeting)

Element List	Explanation
Introduction	Allied Cooperative Insurance Group announces the results of the Ordinary General Assembly meeting (the second meeting) due to the lack of a quorum in the first meeting, The second meeting was held an hour after the first meeting, with the quorum required for its convening, this is done only through modern technology through Tadawulaty
City and Location of the General Assembly's Meeting	The assembly was held through modern technology and the voting was done through Tadawulaty
Date of the General Assembly's Meeting	2024-06-25 Corresponding to 1445-12-19
Time of the General Assembly’s Meeting	19:30
Percentage of Attending Shareholders	23.16%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The meeting of the Assembly was also attended by the following members of the Board of Directors: 1- Mr. Yasser Muhammad Nasser Al Jarallah (Chairman of the Board of Directors) 2- Mr. Fayez Saleh Bin Mahfouz (Vice-Chairman of the Board of Directors and Chairman of the Executive Committee) 3- Mr. Ali Yahya Al-Jaafari (Managing Member and Chairman of the Investment Committee) 4- Mr. Abdulrahman Hassan Al-Amoudi (Chairman of the Nominations and Remunerations Committee) 5- Mr. Muhammad Ibrahim Al-Rasheed 6- Mr. Abdullah Abdul Rahman Al Sheikh. (Chairman of the Audit Committee). 7- Mr. Ahmed Abdullah Manea Al Hammadi . 8- Mr. Muhammad Jihad Al-Rasheed (Chairman of the Risk Management Committee). 9- Mr. Abdullah Muhammad Abdullah Al-Qahtani . 10- Dr. Abdullah Ibrahim AlIbrahim .
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	1- Mr. Faiz Saleh bin Mahfouz (Chairman of the Executive Committee) 2- Mr. Ali Yahya Al-Jaafari (Chairman of the Investment Committee) 3- Mr. Abdulrahman Hassan Al-Amoudi (Chairman of the Nominations and Remunerations Committee) 4- Mr. Mohamed Jihad Alrasheed (Chairman of the Risk Management Committee) 5- Mr. Abdullah Abdul Rahman Al-Sheikh (Chairman of the Audit Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's	1- The report of the Board of Directors for the financial year ending on 31/12/ 2023 AD was reviewed and discussed 2- The financial statements for the fiscal year ending on 31/12/2023 AD was reviewed and discussed. 3- Approval on the company’s auditors’ report for the fiscal year 31/12/2023 AD after discussed. 4- Approval to appoint auditors for the company, Crowe Solutions Professional Consulting Company, for a fee of 450,000 Saudi riyals, and Al-Kharashi & Partners, chartered accountants and auditors, for a fee of 415,000 Saudi riyals, to examine, review, and audit the financial statements for the second, third, fourth, and annual quarters of the fiscal year 2024, and the first quarter of the fiscal year 2025. 5-Approval on the disbursement of SAR 1,260,329 as remuneration to the members of the Board of Directors for the financial year ended 31 December 2023. 6- Approval absolve the members of the board of directors from liability for the fiscal year ending on 31 December 2023. 7- Approval on the Board of Directors’ decision to appoint Mr. Ahmed Abdullah Al Hammadi (independent member) to the Board of Directors starting from the date of his appointment on 4-10- 2023 AD to complete the Board’s session until the end of the current session on 17-05-2025 AD, succeeding the previous member, Mr. Muhammad Mohsen Bel Harith (independent member) . 8- Approval on the Board of Directors’ decision to appoint Dr. Abdullah Ibrahim Al-Ibrahim (independent member) to the Board of Directors starting from the date of his appointment 20-02-2024 AD to complete the Board’s session until the end of the current session on 17-05-2025 AD, succeeding the previous member Dr. Khaled Majed. Al-Rasheed (independent member).

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