UIB Assurances Convenes Ordinary General Meeting
UIB Assurances has convened an ordinary general meeting for its shareholders on December 5, 2025. The meeting aims to ratify the co-optation of a new chairwoman of the board of directors, Ilhem Bouaziz, following the resignation of the previous chairman, Kamel Neji.
Key Points on the Agenda
The meeting will also discuss the issuance of participatory securities with a value of 5 million Tunisian dinars (TND). The issuance will consist of 50,000 securities with a nominal value of 100 TND each. The subscription period for this issuance will last for 30 days, starting from the date of publication of the notice in the Official Journal of the Republic of Tunisia. The subscription period may be closed earlier if all securities are subscribed.
Terms of the Participatory Securities
The securities will be subscribed to in cash and will be payable in full at the time of subscription. The securities will accrue interest from the date of closure of the subscription period. The participatory securities will be redeemed at the end of the 7th anniversary of the date of closure of the subscription period. The company will only redeem these securities ahead of schedule in the event of liquidation, and after all other privileged or unsecured creditors have been paid, excluding the holders of the participatory securities.
Remuneration of Participatory Securities
The participatory securities will be remunerated as follows:
- Fixed portion: 8% per annum, calculated on the nominal value, payable on December 31 of each year
- Variable portion: 0.5% of the issued premiums, net of cancellations and refunds, excluding life savings premiums, up to a maximum of 0.5% of the amount raised. The variable portion will be payable within 15 days following the general meeting that approves the accounts.
Definition of Participatory Securities
Participatory securities are negotiable securities whose remuneration includes a fixed portion and a variable portion, calculated by reference to elements related to the company's activity or results, and linked to the nominal value of the security. They are considered as equity when assessing the financial situation of the companies that benefit from them.
