Al Sagr shareholders reject board bonuses for 2022

25/05/2023 Argaam

Al Sagr shareholders reject board bonuses for 2022

Logo of Al Sagr Cooperative Insurance Co.

Shareholders of Al Sagr Cooperative Insurance Co. disapproved the disbursement of SAR 3.32 million in board bonuses for 2022 during the ordinary general meeting (OGM) held on May 24.

 

They also rejected some transactions and contracts concluded between the company and Al Sagr National Insurance Co. (Dubai), in which board members, Abdullah Al-Sari, Majid bin Abdullah Al-Sari, Abdul Mohsen Jaber and Sultan Al-Suwaidi, have an indirect interest, the company said in a statement to Tadawul.

 

Accordingly, Abdullah Al-Sari, Majid Al-Sari, Abdul Mohsen Jaber and Sultan Al-Suwaidi were granted a six-month period from the OGM date to reconcile their situation, in accordance with Article 67 of the Companies Law for Listed Joint Stock Companies.

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