Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) has officially announced the start of the electronic voting period for its upcoming Extraordinary General Assembly (EGM) which is scheduled on 28 June 2026.
Shareholders are invited to cast their votes on the assembly’s agenda items starting from 1:00 AM on 24 June 2026. This process precedes the EGM which will be conducted virtually using modern technological means to ensure broad shareholder participation and transparency.
According to the company’s disclosure, the announcement follows a previous invitation issued by the company on 19 May 2026 regarding the first meeting of the Extraordinary General Assembly.
By utilizing the Tadawulaty platform, Tawuniya aims to facilitate a seamless governance process, allowing investors to exercise their voting rights remotely in alignment with the digital transformation initiatives within the Saudi capital market.
The electronic voting window will remain open until the conclusion of the General Assembly meeting. Shareholders registered on the Tadawulaty portal can access the voting services free of charge.
The company emphasized that the platform provides a comprehensive suite of financial services designed to meet the diverse requirements of investors and joint-stock companies, contributing to the overall development of the Saudi financial ecosystem.
The agenda for the Extraordinary General Assembly includes several critical items that require shareholder approval.
While specific resolutions for this meeting typically involve structural or capital adjustments, the general framework for such assemblies often covers the approval of financial statements, the appointment of external auditors, and the election of board members.
Tawuniya has provided a detailed guide, issued by the Securities Depository Center (Edaa), to assist shareholders in navigating the electronic voting mechanics.
The voting mechanism is divided into three primary categories to ensure precision in shareholder expression. Ordinary voting allows shareholders to approve, reject, or abstain from specific agenda items.
For more complex decisions, such as board elections, the system employs cumulative voting, where shareholders can distribute their votes among candidates based on their shareholding volume.
Additionally, proportional voting may be utilized for specific appointments, such as selecting audit firms.
Tawuniya noted that if a shareholder attends the assembly in person and casts a vote using a physical ballot, any previously submitted electronic votes via the Tadawulaty system will be automatically nullified.
This measure is intended to prevent double-counting and maintain the integrity of the final results.
To further support transparency, the company will provide a live broadcast of the assembly proceedings through a link available within the Tadawulaty system, and a summary of the voting results will be made available in PDF format following the meeting.
The commencement of electronic voting represents a vital phase in Tawuniya’s corporate governance calendar.
By enabling remote participation, the company ensures that its shareholder base can influence key corporate decisions, thereby upholding the regulatory standards set by the Capital Market Authority (CMA) and enhancing investor confidence in the insurance sector’s leading entities.
