Correction announcement from Wataniya Insurance Co. in regards to Wataniya Insurance Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting
| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul's Website | 2022-04-04 Corresponding to 1443-09-03 |
| URL of the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | The contents of Agenda Items in English dose not match the Agenda Items in Arabic version and in the attachment |
| Correct Statement | 1-Voting on the Board of Directors Report for the Financial year ended 31 December 2021. |
2- Voting on the External Auditors Report for the Financial Year ended 31 December 2021. (Enclosed)
3- Voting on the Annual Financial Statement as of 31 December 2021.
4- Voting on the appointment of External Auditors based on the Audit Committee’s recommendation, to audit the interim financial statement of Quarter2, Quarter3, Annual Financial Statement 2022, and the Quarter1, 2023. And to approve their Fees.
5- Voting on appointing a new Board of Directors for the new Board tenure starting April 26th, 2022, for three years which ends on April 25th, 2025. (Resumes Enclosed)
6- Voting on the business transaction between E A Juffali & Bros, and Wataniya Insurance Company where there is a direct interest in this contract for Mr. Amin Alafifi & Mr. Faisal Charara as they are Directors in both Companies. Contract is Head Office rent. Transaction during 2021 amounted SR 3.966 million with No preferential conditions. (Enclosed)
7- Voting on the business transaction between SNIC Insurance Co, and Wataniya Insurance Company where there is a direct interest in this contract for Mr. Amin Alafifi & Mr. Faisal Charara as they are Directors in both Companies. Contract is renewal of Reinsurance Non-Obligatory treaty. Transaction during 2021 amounted SR 1.519 million with No preferential conditions. (Enclosed)
8- Voting on the business transaction between Saudi Cement Company, and Wataniya Insurance Company where there is a direct interest in this contract for Mr. Amin Alafifi as a Director in both Companies. Contract is Insurance Premiums. Transaction during 2021 amounted SR 4.462 million with No preferential conditions. (Enclosed)
9- Voting on the business transaction between E A Juffali Information System Company, and Wataniya Insurance Company where there is a direct interest in this contract for Mr. Amin Alafifi & Mr. Faisal Charara as they are Directors in both Companies. Contract is renewal of IT Maintenance Services Agreement. Transaction during 2021 amounted SR 1.429 million with No preferential conditions. (Enclosed)
10- Voting on the business transaction between Naghi Group of Companies, and Wataniya Insurance Company where there is a direct interest in this contract for Mr. Tahir Aldabbagh as a Director in both Companies. Contract is Insurance Premiums. Transaction during 2021 amounted SR 6.225 million with no preferential conditions. (Enclosed)
11- Voting on the appointment of Audit Committee for the new term start on April 26th, 2022, for 3 years period end on April 25th, 2025. And it is working method, responsibility, and its compensation. (Resumes Enclosed) Membership as follow:
Mr. Shireesh Behide – Committee Chairman (Independent – from outside the Board)
Mr. Nedahl Radwan – Committee member (Independent – Board Member)
Mr. Sami Alhalabi – Committee member (Independent – from outside the Board)
12- Voting on the payment of the Board of Directors Fees for the Financial Year end 31 December 2021 amounted SR. 1,346,667.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.