Al Ahlia Insurance announced that it has received a letter dated 26 September 2017 from the chairman of the company, Mr. Anwar Ali Sultan that W.J. Towell & Co. LLC has divested and sold its entire shareholding in the company on 31 August 2017. Since the chairman was elected to the board as a representative of a juristic person (that is W. J. Towell & Co. LLC), he ceases to be a director and chairman of the company and has consequently, tendered his resignation as the chairman of the company with effect from 26 September 2017. In view of this development, the deputy chairman of the company proposes to convene an emergency meeting of the board on 27 September 2017 to elect a new chairman of the company.