Low quorum stalls Saudi Enaya vote on Salama merger

Saudi Enaya will call a third EGM after securing the required approvals

Saudi Enaya Cooperative Insurance Co. said in a statement to Tadawul that its extraordinary general meeting (EGM) slated for Jan. 4, 2026, did not convene due to the lack of quorum.

The EGM was supposed to discuss the proposed merger offer from Salama Cooperative Insurance Co.

Attendance at the first meeting reached 20.66%, and 20.77% at the second meeting, meaning the legal quorum was not met.

The Saudi insurer will later invite shareholders to attend an extraordinary general meeting (third meeting) after determining its date and obtaining the necessary approvals from the relevant authorities, noting that the third meeting will be valid regardless of the number of shares represented that carry voting rights.