Sharjah Insurance Company

Resolution No. 355 of 2024 announces the temporary suspension of trading on the shares of Sharjah Insurance Company. This is due to the company's AGM being held at 11:00 on the 29th of April, 2024, which coincides with the trading session at ADX. As a result, trading will be suspended from 09:00 on the same day until ADX receives the AGM results. All heads of departments in ADX are required to execute this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 02/04/2024.

The text is a clarifying disclosure regarding the approval of agencies, according to Clauses 1 & 2 of Article 40 of the Corporate Governance Manual. Shareholders with the right to attend the general assembly may delegate someone who is not a board member or company staff to attend on their behalf. The delegate cannot represent more than 5% of the company's issued capital. The shareholder's signature on the power of attorney must be approved by a notary public, a commercial chamber of the economic department in the state, a licensed bank or company in the state, or any other entity licensed to perform attestation works. The proxy form should include the shareholder's name and contact number(s) and the name of the brokerage firm who approved the proxy.

The Board of Directors of Sharjah Insurance Company (PSC) is inviting shareholders to attend the Annual General Assembly meeting on Monday 29/4/2024 at 11:00 am. The meeting will be held both in person in Sharjah Emirates and online via Zoom. The agenda includes reviewing and approving the company's activity and financial position, the auditor's report, and the balance sheet for the fiscal year ended 31/12/2023. The proposal for a 7% cash dividend distribution amounting to AED 10.5 million will also be considered. Additionally, the board members' remuneration will be approved and decisions regarding the release, removal, or potential liability cases against board members will be made.