Chubb Arabia postpones EGM for lack of quorum

Chubb Arabia Cooperative Insurance Co. announced that its extraordinary general assembly (EGM) slated for April 20, was not held due to the lack of quorum.

The company said in a bourse statement that the attendance percentage at the meeting was 27.21%.

The insurer added that dividend eligibility will be for shareholders of record by the close of trading on the second meeting date that will be determined later after obtaining the regulatory approvals.

Chubb Arabia’s shareholders were scheduled to vote on a 5% cash dividend, at SAR 0.5 per share, for the fiscal year 2019, Argaam reported.