Almarai announces on the date of December 31, 2014 that it has renewed some of insurance contracts with the Arabian Shield Cooperative Insurance Company (related party), where HH Prince Sultan bin Mohammed bin Saud Al Kabeer the chairman of its board of directors is the chairman of Almarai's board of directors. The total initial value of those contracts is SAR 83.8 million for one year starting from 1/1/2015.
Note that the renewal of these contracts is within the normal course of Almarai's operations. These contracts are renewed in line with the current commercial condition prevailing in the market.
These contracts will be presented in the next General Assembly for approval.
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