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Bupa Arabia for Cooperative Insurance Co. announces the results of shareholder Ordinary general assembly meeting

Bupa Arabia for Cooperative Insurance announces the results of the Ninth Ordinary General Assembly meeting of its shareholders which was held on Wednesday 25th of Shaban 1437H, corresponding to 1st June 2016G, at 7:30 pm at Bupa Arabia's Jeddah offices, Prince Saud Al-Faisal Street., Al-Khalediyah District, Jeddah, under the Chairmanship of Chairman of the Board Eng. Loay Hisham Nazer and reached an attendance of (52.98%) of the total shares of the Company's 80 million shares pursuant to the relevant Saudi regulations and to the relevant articles of the company's Bylaws

The agenda was thoroughly discussed and the results were a unanimous approval of the following resolutions:

Resolution (1): Approval of the Board of Directors Report for the year ended 31/12/2015G (12 months).

Resolution (2): Approval of the Auditors Report for the year ended 31/12/2015G (12 months).

Resolution (3): Approval of the Annual Financial Statements for the year ended 31/12/2015G (12 months).

Resolution (4): Approval of the selection and appointment of the joint external auditors, as Ernst & Young and KPMG Al-Fozan & Partners, to audit the company's accounts and review the financial statements for the fiscal year 2016, including the quarterly interim results, and for the Company to set the external auditors fees, based on the Audit Committee's recommendation.

Resolution (5): Approval of the appointment of the new Board members, Mr. Martin Potkins and Mr. Paul John Davis, representing the foreign shareholder, Bupa Investments Overseas Limited, for the completion of the current Board of Directors term, as replacements of Mr. Ignacio Peralta Gracia and Mr. Edward George Fitzgerald Hannan.

Resolution (6): Approval of the ratification of the Business and Contracts for year 2015G (12 months), including the insurance contracts with the Company where applicable, for the related party transactions and where a Board member has an interest, during the period ended 2015G (12 months), and for the following year 2016G (for 12 months) as per the attachment 'Res. 6 Transactions with related parties and contracts with Board member interest'

Resolution (7): Approval of the Dividend distribution of SR2.00 per share, for the year 2015G (12 months), totaling Saudi Riyals one hundred and sixty million (SR160,000,000), representing 20% of the paid up share capital, to the shareholders who are registered at the date of this Ordinary General Assembly Meeting, Details of the dividend distribution date will be advised at a later date.

Resolution (8): Approval of the remuneration paid to the Board members, at SR1,020K for the year ended 31/12/2015G (12 months), in accordance with article 17 of the Company's by-laws.

Resolution (9): Approval of the absolving of the Board of Directors of their responsibility for managing the Company for the year ended 31/12/2015G (12 months).

Attached Documents

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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