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Salama Cooperative Insurance Co. Announces the Result of the Shareholder Ordinary Assembly Meeting (First Meeting)
1- The Board of Directors report for the fiscal year ending on 31-12-2022 was viewed and discussed.
2- Approved on the company's auditor's report for the fiscal year ending 12/31/2022.
3- The financial statements for the fiscal year ending on 31-12-2022 was viewed and discussed.
4- Approvedthe absolving the Board of Directors from their liabilities pertaining to the management of the company for the fiscal year ended 31/12/2022.
5- Approved on paying an amount of (943,805.00) SR as remuneration to the Board members for the Fiscal year ended on 31/12/2022.
6- Approved on appointing the auditor for the company from the selected candidates based on the Audit Committee’s recommendation. The appointed auditor shall examine, review and audit the (second and third) quarters and annual financial statements of the fiscal year 2023, and the first quarters of the fiscal year 2024. In addition to, the determination of the auditor’s remuneration, they are as follows:
- PKF AlBassam & Partners - Price Waterhouse Cooper
7- Approval on business and contracts concluded between the company and Al Mamoon Overseas – Insurance Broker which a member of the Board of Directors Mr. Adnan Jameel Khoja (non-executive member) has an indirect interest, which is a contract of Insurance Broker services with a total amount of 884,000.00 SAR.
8- Approval on business and contracts concluded between the company and Ittihad Insurance Broker which a member of the Board of Directors Mr. Abdullah Adel Sultan (Independent member) has an indirect interest, which is a contract of Insurance Broker services with a total amount of 36,000.00 SAR.
9- Approval on authorizing the Board of Directors with the General Assembly authority with the rights mentioned in paragraph (1) of Article (27) of the Companies Law for one year from the date of approval of the General Assembly or until the end of the session of the authorized Board of Directors, whichever is earlier, in accordance with the conditions mentioned in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.
Meeting Agenda
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