Saudi Enaya, Amana shareholders to vote on merger on Jan. 9

Logos of Saudi Enaya and Amana Insurance

Shareholders of Amana Cooperative Insurance Co. will vote on the merger with Saudi Enaya Cooperative Insurance Co. during the extraordinary general assembly meeting (EGM) scheduled for Jan. 9, 2022.

Amana Insurance said in a bourse statement that the agenda also includes voting on the company’s share capital increase from SAR 130 million to SAR 288.58 million, subject to the terms and conditions of the merger agreement and with effect from the merger date, pursuant to the Companies Law and the merger agreement.

Shareholders will also vote on the amendments to the articles of association for the company and authorizing the board of directors to take any decision or any action as may be required to implement any of the previous resolutions.

In a separate bourse statement, shareholders of Saudi Enaya will vote on Amana Insurance’s merger offer during the EGM to be held on Jan. 9, 2022.

They will also vote on authorizing Saudi Enaya’s board of directors to adopt any resolution or take any action as may be necessary to implement any of the above resolutions.

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