SALAMA Clarifies Proxy Voting Policy: A Deep Dive into Islamic Arab Insurance Company's Recent Press Release
In this article, we delve into the recent announcement by Islamic Arab Insurance Company, also known as SALAMA, regarding their policy on proxy voting for shareholders. We also take a closer look at the company's financial performance.
Summary
SALAMA, a UAE-based insurance company, has recently clarified its policy on proxy voting. The company has experienced a slight dip in its 3-month yield, but has seen a small increase in its 1-month yield. Despite these mixed results, the future outlook for the company remains uncertain.
The Islamic Arab Insurance Company, known as SALAMA, recently issued a press release to clarify its policy on proxy voting for shareholders. According to the company's Corporate Governance Manual, shareholders have the right to delegate a non-board member, non-employee, or non-securities brokerage company or its employee, to attend the general assembly and vote on resolutions. However, the proxy cannot hold more than 5% of the company's issued capital. The shareholder's signature on the proxy must be approved by a Notary Public, a commercial chamber of economic department in the state, a bank or company licensed in the state, or any other licensed entity. The proxy form must include the shareholder's name and contact number, and the name and contact number of the brokerage firm who approved the proxy.
Looking at SALAMA's financial performance, the company has seen a slight dip in its 3-month yield, at -0.32%, but has seen a small increase in its 1-month yield, at 0.09%. The company's market cap stands at 375,835,599.
Despite these mixed results, the future outlook for the company is not optimistic. The company operates in a highly competitive market and the recent dip in the 3-month yield could be indicative of a downward trend. Additionally, the company's policy on proxy voting could potentially limit the influence of individual shareholders, which could deter potential investors.
Considering these factors, it is suggested to hold off on buying SALAMA's shares for now. It would be prudent to keep an eye on the company's performance and any future policy changes before making a decision.
Source
Summary
SALAMA has clarified its policy on proxy voting for shareholders. According to their Corporate Governance Manual, shareholders are allowed to delegate someone who is not a board member, company employee, or securities brokerage company or its employee, to attend the general assembly and vote on resolutions. The proxy cannot hold more than 5% of the company's issued capital. The shareholder's signature on the proxy must be approved by a Notary Public, a commercial chamber of economic department in the state, a bank or company licensed in the state, or any other licensed entity. The proxy form must include the shareholder's name and contact number, and the name and contact number of the brokerage firm who approved the proxy.
Summary
The document is a secret dividend policy from SALAMA, effective from a date approved at an Annual General Meeting. The policy was issued on the 1st of October, 2023 and spans across 6 pages. The document is intended for those interested in finance and investing.
Summary
The text is a confidential internal document from SALAMA, discussing the reward policy for the chairman and members of the board. The document was issued in April 2024.
Summary
The Board of Directors of the Islamic Arab Insurance Company (SALAMA) has invited its shareholders to attend the annual General Assembly meeting. The meeting will take place on Thursday, 25 April 2024 at 3:00 PM at the company's headquarters in Dubai, or through remote presence technology/virtual meetings. The agenda includes appointing the meeting secretary and vote collector, reviewing and approving the board's report on the company's activities and financial position for 2023, reviewing and approving the auditor's report for 2023, reviewing and approving the internal Sharia Supervisory Committee's report for 2023, reviewing and approving the company's balance sheet and profit and loss account for 2023, and discharging the board of directors from responsibility for 2023.
