UCA shareholders to vote on appointing 2 board members on Oct. 20

United Cooperative Assurance Co.’s (UCA) shareholders are set to vote on appointing two board members, Khaled bin Bakr and Faisal bin Hussein, during the ordinary general assembly meeting (OGM) that will be held on Oct. 20, 2020.

The insurer will adopt electronic voting as of Oct. 16 on the agenda items of its OGM, according to a bourse filing on Monday.

The step follows the Capital Market Authority’s (CMA) directives enabling shareholders to participate and vote on related meeting agenda through Tadawulaty system in line with the government’s efforts to prevent spread of coronavirus.

In August, UCA appointed two board members, Khaled bin Bakr and Faisal bin Hussein, for the current board term ending Dec. 13, 2020, according to data compiled by Argaam.

The insurer obtained the approval from the Saudi Arabian Monetary Authority (SAMA) on the appointments on July 27, 2020.