Logo of Al Sagr Cooperative Insurance Co.
Al Sagr Cooperative Insurance Co. announced today, June 15, receiving a letter from five shareholders with around 5.15% of the company’s capital, requesting to hold an ordinary general meeting (OGM) to vote on the dismissal of four non-executive board members, according to a bourse statement.
They filed to dismiss board members Majid Al-Sari, Abdullah Al-Sari, Abdulmohsen Jaber and Sultan Al-Suwaidi, based on the Companies Law, Corporate Governance Regulations as well as the Rules on the Offer of Securities and Continuing Obligations.
The insurer will take the necessary measures as per the rules and regulations, and will announce relevant developments in due course.
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