| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Mutakamela Insurance Company is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly Meeting (First Meeting), scheduled to be held, On Tuesday, 15 Muharram 1448H, corresponding to 30 June 2026G, by means of modern technology. |
| City and Location of the General Assembly's Meeting | Company headquarters - Riyadh City - via modern technology. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2026-06-30 Corresponding to 1448-01-15 |
| Time of the General Assembly’s Meeting | 18:55 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee. |
| Quorum for Convening the General Assembly's Meeting | The Ordinary General Assembly Meeting shall be valid if attended by shareholders representing at least half of the Company’s capital. If the quorum required for holding this meeting is not met, a second meeting shall be held one hour after the end of the period specified for convening the first meeting. The second meeting shall be valid regardless of the number of shares with voting rights represented therein |
| General Assembly Meeting Agenda | 1- To review and discuss the Board of Directors’ Report for the fiscal year ended 31 December 2025. 2- To review and discuss the financial statements for the fiscal year ended 31 December 2025. 3- To vote on the Company’s External Auditors’ Report for the fiscal year ended 31 December 2025, after discussion. 4- To vote on discharging the members of the Board of Directors from liability for the fiscal year ended 31 December 2025. 5- To vote on the appointment of the Company’s external auditors from among the candidates, based on the recommendation of the Audit Committee, to examine, review, and audit the annual financial statements, the second and third quarters of the fiscal year ended 2026, and the first quarter of the fiscal year ended 2027, and to determine their fees. 6- To vote on the external auditor’s (Deloitte) request to amend the audit fees previously approved by the General Assembly as follows: an increase of SAR 250,000 (two hundred fifty thousand Saudi Riyals only) for Q2 and Q3 and the fiscal year 2025, as well as Q1 of the fiscal year 2026, mainly due to the performance of additional procedures, bringing the total fees after the amendment to SAR 1,650,000 (one million six hundred fifty thousand Saudi Riyals only). 7- To vote on the payment of remuneration to the members of the Board of Directors in the amount of SAR 1,962,000 (One million, nine hundred and sixty two thousand only) for the fiscal year ended 31 December 2025. 8- To vote on the business and contracts concluded during the fiscal year ended 31 December 2025 between Mutakamela Insurance Company and Banque Saudi Fransi, in which Board Member Mr. Majed Alsadhan has an indirect interest, as he holds a senior executive position therein. These are transactions resulting from an insurance contract, represented in the net value of the total insurance premiums and total claims which were conducted without preferential terms or advantages, for a term of one year, with a transaction value for 2025 amounting to SAR (7,387,020). 9- To vote on the business and contracts concluded between Mutakamela Insurance Company and Saudi Fransi Capital, in which Board Member Mr. Majed Alsadhan has an indirect interest, as he holds a senior executive position therein. These are transactions resulting from several insurance contracts, represented in the net value of the total insurance premiums and total claims which were conducted without preferential terms or advantages, for a term of one year, with a transaction value for 2025 amounting to SAR (733,754). 10- To vote on the business and contracts concluded between Mutakamela Insurance Company and Saudi Fransi Leasing Company and Saudi Fransi Insurance Agency Company, both subsidiaries of Banque Saudi Fransi, in which Board Member Mr. Majed Alsadhan has an indirect interest, as he holds a senior executive position at Banque Saudi Fransi. These are transactions resulting from several insurance contracts, represented in the net value of the total insurance premiums and total claims which were conducted without preferential terms or advantages, for a term of one year, with a transaction value for 2025 amounting to SAR (16,073,399). 11- To vote on the business and contracts concluded between Mutakamela Insurance Company and Abu Dhabi National Insurance Company, in which Board Members Mr. Charalampos Mylonas, Mr. Jugal Madaan, Mr. Stefano Nalin, Mr. Husam Mansour, and Ms. Elena Stukanova have an indirect interest, as each of them holds a senior executive position therein. These are transactions resulting from an reinsurance contract, represented in the net value of the total insurance premiums and total claims which were conducted without preferential terms or advantages, for a term of one year, with a transaction value for 2025 amounting to SAR (176,428,344). |
| Proxy Form | Proxy Form |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders shall have the right to discuss the items listed on the Assembly’s agenda and raise questions. Shareholders registered in Tadawulaty services may vote remotely on the meeting agenda items through Tadawulaty’s website at the following link: https://www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered in Tadawulaty services may vote electronically and remotely on the Assembly agenda items starting from 01:00 a.m. on Saturday, 27/06/2026G, and ending half an hour after the time scheduled for convening the Assembly Meeting. All shareholders of the Company shall have the right to participate and vote remotely by visiting Tadawulaty website: https://www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | Questions and inquiries from shareholders will be received by the Shareholders Relations Department via the following email: InvestorsAffairs@mutakamela.sa |
| Attached Documents | Attached Documents Attached Documents |
Mutakamela Insurance Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the (First Meeting)
AI Summary
- Mutakamela Insurance Company invited shareholders to its Ordinary General Assembly Meeting on June 30, 2026, to vote on the 2025 fiscal year financial statements, Board report, and director liability discharge.
- The agenda includes a vote on Board remuneration totaling SAR 1.962 million for 2025 and an amendment to Deloitte’s audit fees, increasing them by SAR 250,000 to a total of SAR 1.65 million.
- Shareholders will vote on several related party transactions, including insurance and reinsurance contracts with Banque Saudi Fransi (SAR 7.39 million) and Abu Dhabi National Insurance Company (SAR 176.4 million).
- Electronic voting via the Tadawulaty platform is scheduled to begin on June 27, 2026, for registered shareholders.
