Riyadh – Mubasher: The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MedGulf) has officially announced the start of the electronic voting period for its upcoming Extraordinary General Assembly (EGM).
Shareholders started to cast their votes on the assembly’s agenda items as of 1:00 AM on 25 June 2026, according to a bourse filing.
This process precedes the scheduled meeting date of 29 June 2026, which will be conducted via modern technological means to ensure broad shareholder participation.
The agenda for the EGM includes several critical items requiring shareholder approval. According to the provided documentation, these typically encompass the review and approval of the company’s financial statements.
This is in addition to the appointment or reappointment of external auditors and the election of members to the Board of Directors.
The scheduled EGM consists of two sessions that will be held remotely, reflecting the company’s commitment to utilizing digital infrastructure for corporate governance.
To facilitate this process, MedGulf has integrated its voting system with the Tadawulaty platform. Registration and voting services are provided free of charge to all shareholders through the official Tadawulaty website.
The electronic voting window will remain open from its commencement on 25 June until the conclusion of the General Assembly meeting on 29 June.
The company has clarified that three distinct voting mechanisms may be employed depending on the nature of the agenda item:
- Normal Voting: Used for standard resolutions where shareholders can vote "Approve," "Disapprove," or "Abstain."
- Cumulative Voting: Utilized for the election of the Board of Directors, allowing shareholders to distribute their voting rights—based on their share ownership—among one or more candidates without duplicating votes.
- Election Voting: Used for specific selections, such as the appointment of audit firms, where shareholders select from provided options based on their total shareholding.
MedGulf emphasized that if a shareholder attends the meeting virtually and votes during the session, any prior electronic votes cast through the Tadawulaty system will be superseded.
Furthermore, the company will provide a live broadcast of the assembly through the Tadawulaty platform, allowing shareholders to follow the proceedings in real-time.
The commencement of electronic voting is a standard regulatory procedure in the Saudi capital market, designed to enhance transparency and enable shareholders to exercise their statutory rights efficiently.
By leveraging the Edaa (Securities Depository Center) systems, MedGulf aims to ensure a seamless and secure governance process in alignment with the Kingdom’s digital transformation goals for the financial sector.
