× Amendment Announcement for Q2 2019 Results Webcast:

With reference to the subject of Hajj and Umrah medical insurance that was discussed during our last webcast for Q2 2019 results, Bupa Arabia would like to draw investors attention that the pricing for the aforementioned segments is still under review and has not been finalized nor made public. In this note, we officially withdraw statements made during the webcast re hajj and umrah insurance and seek investors’ understanding by not sharing our comments or interpret them in their analysis.

Investor Relations

 

Bupa Arabia’s IPO took place in the first half of 2008 when 16,000,000 shares were offered at SR10 per share, as per the Saudi market regulations’ public offering price per share for insurers.

The SR160 million offered represented 40 percent of Bupa Arabia’s share capital, of SR400 million at the time and the IPO was the most successful insurance IPO in Saudi Arabia with SR1,474,473,500 raised, representing an over-subscription of 9.2 times.

Bupa Arabia was incorporated on 11th May 2008 and listed on the Saudi (Tadawul) stock exchange on 17th May 2008.

All Bupa Arabia shares are fully subscribed. Some Bupa Arabia shares are currently held in an investment bank account for employees as part of the Company’s Long-Term Incentive Plan (LTIP), about which more details can be found in the Financial Statements’ LTIP notes. 

During the fourth quarter of 2018 Bupa Arabia’s share capital was increased to 120,000,000 shares at SR10 per share, SR1,200,000,000, an increase of fifty percent of the previous share capital of SR800,000,000 through the issuance of one bonus share for every two shares held. During the fourth quarter of 2015 Bupa Arabia’s share capital was increased to 80,000,000 shares at SR10 per share, SR800,000,000, a doubling of the previous share capital of 40,000,000 shares, SR400,000,000, through the issuance of one bonus share for every share held. Please refer to the Financial Statements’ notes for more details about Bupa Arabia’s Share Capital.

Bupa Investments Overseas Limited, controlling 39.25%, and Nazer Group, controlling 13.09%, are Bupa Arabia’s major controlling shareholders collectively controlling 52.34%. Bupa Investments Overseas Limited directly owns the full 39.25% and the Nazer Group ownership is through two of its companies: Nazer Group Holding Company Limited 9.00% and Modern Computer Programs Company Limited 4.09%. Please refer to the Financial Statements’ notes, and the Annual Board Report for more details about Bupa Arabia’s major shareholders.

Yes Bupa Arabia pays dividends, where it feels it is appropriate to do so, after having received the required regulatory approval(s). Bupa Arabia’s dividend history is illustrated below:

Fiscal Results Year No. of Shares in Issue SR Dividends Per Share SR Dividend Amount Year Distributed
2017 80,000,000 2.00 160,000,000 2018
2016 80,000,000 1.50 120,000,000 2017
2015 80,000,000 2.00 160,000,000 2016
2014 40,000,000 N/A N/A N/A
2013 40,000,000 0.50 20,000,000 2014
2012 40,000,000 1.00 40,000,000 2013
2009-2011 40,000,000 N/A N/A N/A

The full Annual Report and Accounts (ARA), for each statutory financial period, are available on this Company website, in the Governance and Financial Information sections, and hard copies are distributed to attending shareholders at the General Assembly Meeting which is held to approve the annual results each year.  

The Annual Financial Statements (AFS) and Annual Board Report (ABR) are also available individually, for each statutory financial period, on this website within the Financial Information section. The AFS and the ABR are also available on the Bupa Arabia dedicated page on the Tadawul website.

Bupa Arabia’s annual financial period runs from January the 1st through to the 31st of December each year. The first Bupa Arabia statutory financial statements were issued for the period ending 31st December 2009, for the period from May 1, 2008 through December 31st, 2009. 

Information on Bupa Arabia can be retrieved through this website and / or through the Bupa Arabia dedicated page on the Saudi Stock Exchange (Tadawul), both of which contain all of Bupa Arabia’s Tadawul stock exchange announcements (the Bupa Arabia Tadawul stock code is 8210).

N.B: Regulatory requirements of a Saudi publicly listed company do not enable Bupa Arabia to provide additional information to individual shareholders beyond what was already made publicly available by Bupa Arabia to all its shareholders through Tadawul announcements and the Bupa Arabia website. 

Bupa Arabia’s independent joint external auditors are currently:

  • Ernst & Young & Company
  • KPMG Al Fozan & Partners

Bupa Arabia’s independent external actuary is currently:

  • Manar Sigma Financial Consulting

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