Bupa Arabia to vote on 2020 dividends, SAR 14.3 mln share buyback on June 30

Bupa Arabia for Cooperative Insurance Co.’s shareholders are set to vote on authorizing the board of directors to distribute interim dividends on a quarterly or semi-annual basis for the fiscal year 2020, during the extraordinary general meeting that will be held on June 30, 2020.

They will also vote on repurchasing a maximum of 220,000 of its treasury shares, worth SAR 14.28 million.

The company said in a statement to Tadawul that the repurchased shares will be allocated under the Employees Long Term Incentive Program and the process will be financed from the company’s own resources.

Shareholders will authorize the board of directors to complete the process within a period not exceeding 12 months from the date of the general assembly’s approval.

Meanwhile, they will also vote on audited financial statements, audit and board reports for FY2019, as well as appointing an external auditor.

Furthermore, they will vote on discharging board members from liabilities for FY2019, and board remuneration of SAR 3.09 million for the last year.

Shareholders will vote on appointing Joey Lenton as non-executive member in the board of directors, replacing Simon Preston, as well as endorse several business contracts signed in 2019.

Shareholders will participate and vote on the meeting agenda items through Tadawulaty system as of June 26, as per the Capital Market Authority’s (CMA) circular issued on March 16, in line with the government’s efforts to prevent the spread of coronavirus.