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THE MEDITERRANEAN AND GULF INSURANCE AND REINSURANCE CO INVITES THE SHAREHOLDERS TO ATTEND THE ANNUAL GENERAL MEETING (FIRST MEETING)



The Mediterranean and Gulf Insurance and Reinsurance Co invites shareholders who own 20 shares or more to attend the Annual General Meeting that will be held by the will of God in the company's headquarters, Mather street Futuro Tower Building, 11th Floor, in Riyadh promptly on 18: 00, 06/29/1435 corresponding to 29/04/2014, to discuss the following agenda:

1. The approval of the report of the Board of Directors for the company's business for the financial year ended December 31, 2013.
2. The approval of the annual financial statements of the company including the balance sheet and profit and loss account for the financial year ended December 31, 2013.
3. The approval of the report of the accounts auditors for the financial year ended in December 31, 2013.
4. The approval of the Board 's on the recommendation of the Audit Committee to choose the company's auditors for the fiscal year 2014 and determine their fees .
5. Discharge of the members of the Board of Directors from liability in respect of their management of the business during the year 2013.
6. The approval of the standards and procedures specified for the membership in the Board of Directors in accordance with the provisions of paragraph (e) of Article X of the Rules of corporate governance in the Kingdom of Saudi Arabia issued by the Capital Market Authority .
7. The approval on the agreement that has been made with Medivisa to settle medical claims. The agreement states a fee of 3.5% of gross written premium, where the value of the contract during the year 2013 was SR 102,033,402 and the renewal of license for next year. This is a subsidiary company belonging to the companies the Managing Director - CEO , Mr. Lutfi Fadel Al Zain owns shares in.
8. The approval of the work done with Al Samiyah Limited - Insurance Company Limited, under contract where the commision rates varies depending on the size of the insurance policy. The value of the contract during the year 2013 was SR 60,906,241 and the renewal of license for next 6 Months until the end of all deals with Al Samiyah company. This is a subsidiary company belonging to the companies the Managing Director - CEO , Mr. Lutfi Fadel Al Zain owns shares in.
9. The approval to pay bonuses and compensation of members of the Board of Directors for fiscal year 2013 of SR 1,380,000, which is about 1.26 million riyals in bonuses and SR 120,000 in allowances, according to Article 17 of the Statute of the company.

Note that it is necessary for the holding of this Assembly the attendance of a number of shareholders representing 50 % of the capital. Each shareholder that owns 20 shares has a right to be present in the meeting of the General Assembly. Shareholders who can not attend the meeting and would like to send on their behalf other shareholders who have the right to attend the meeting (Non-members of the Board of Directors and staff of the company) must send the necessary authorizations certified by the Chamber of Commerce or a bank or the employer, and send it to the following address: Headquarters, Mather street Futuro Tower building, 11th Floor, Riyadh city, at least 3 days prior to the meeting. For inquiries, please contact the Investor Relations Deparment by telephone at the following number 011 4055550 Ext ( 646 ) during the official working hours of the company which are from Sunday to Thursday from 8:00 AM - 5:00 PM.

The shareholders wishing to attend the meeting must bring their national ID or passport and documents proving their or the shareholder they're representing the ownership of shares, and need to be in premises at least one hour prior to the meeting, to end the necessary registration procedures.

The Authorization Certifcate should read the following:

أنا الموقع أدناه/ ................................................................................. سعودي الجنسية، بموجب السجل المدني رقم ................................................. الصادر من ................................ بتاريخ .........../ .........../ ........................................ بصفتي مالكاً لعدد ................................................ سهماً من أسهم شركة المتوسط والخليج للتأمين وإعادة التأمين التعاوني (ميدغلف) (شركة مساهمة سعودية) قد وكلت عني السيد/ ............................................................................... لحضور اجتماع الجمعية العامة العادية المزمع عقده في مقر الشركة الرئيسي، شارع المعذر ـ مبنى فوترو تاور، الدور الحادي عشر، بمدينة الرياض يوم الأحد في تمام الساعة السادسة من مساء يوم الثلاثاء 29/06/1435هـ الموافق 29/04/2014م والتصويت نيابة عني طبقاً لما يراه مناسباً على القرارات الواردة في جدول أعمال الجمعية.
وهذه وكالة مني بذلك.
في ......................................................... الموافق .............................................
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