Published: Jun 24, 2014
Source: Tadawul

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Saudi Arabian Cooperative Insurance Company announces the results of shareholder Ordinary general assembly meeting(Second time)

Saudi Arabian Cooperative Insurance Company has announced that the company held its Ordinary general assembly meeting (Second Time) in the Prince Salman Social Center in Riyadh on 23-06-2014 corresponding to 25-08-1435 at 16:00. All resolutions of the meeting are as follows:

1. What was approved was report of Board of Directors for the year that ended on 31/12/2013.

2. What was approved of the auditors' report, the balance sheet, profit and loss for the year that ended on 12/31/2103.

3. Approved to Discharge of the members of the Board of Directors for their actions during the year that ended on 31/12/2013.

4. Approved the appointment of auditors :

A-PricewaterhouseCoopers

B-Deloitte & Touche Bakr Abulkhair & Co

From among the candidates by the audit committee to review the company's accounts for the year of 2014 and quarterly financial statements and annual and approved of their fees.

5. Cancel the bonuses specific to Article No. (17) Which the total amount of SR. 180,000 (one hundred eighty thousand riyals) for the chairman and SR. 120,000 (one hundred and twenty thousand riyals) for the members of the Board of Directors, in year 2013, approval of the General Assembly.

6. Approved the recommendation of the Board of Directors on the agency agreement with ACE Insurance Agencies Ltd. and ACE Insurance Brokers Co., Ltd., which owns two the Chairman of 10% of the shares for each.

7. Approved the recommendation of the Board of Directors to add some articles to the conflicts of interest of the corporate governance of the company that comply with the rules issued by the Capital Market Authority.

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