The board of directors of Gulf Union Cooperative Insurance Co. is pleased to invite its shareholders owning 20 shares or more to attend Ordinary general assembly Meeting to be held in the Al Qusaibi Hotel Al Khobar on 20-04-2016 corresponding to 13-07-1437 at 19:00 to consider and vote on the following agenda:
1. Vote on Board of Directors report for the company s business for the fiscal year ended December 31, 2015.
2. Vote on External Auditors Report for the fiscal year ended December 31, 2015.
3. Vote on the Annual Financial Statement of the company including the balance sheet and profit and loss account for the financial year ended December 31, 2015.
4. Vote on the Discharge of the board members for their actions and the results of their management for the period from 01/01/2015 till December 31, 2015.
5. Vote on the proposal of the Board of Directors based on the recommendation of the Audit Committee to choose the company s accounts auditors from among the candidates for the fiscal year 2016 and the first quarter of 2017 and determine their fees.
6. Vote on the business and contracts between the company and members of the Board of Directors without any preference advantages and licensing it for next year are as follows:
Ziad Fouad Saleh of amount (SAR 2.5 million) insurance contract for one Gregorian year, subject to renewal.
Ahmed Saad AlMoajil of amount (SAR 0.8 million) a lease contract for the company s Head offices for one Gregorian year, subject to renewal.
The quorum necessary for the meeting to be in session should be attended by the shareholders representing 50% of the company’s capital. Each shareholder owning 20 or more shall have the right to attend the general assembly meeting whether in person or by proxy, subject to presentation of corroborating evidence or a written power of attorney endorsed by the chamber of commerce authorizing another shareholder, other than the member of the board of directors or employees of the company, to attend the general assembly meeting on their behalf and it should be sent to Gulf Union HO Dammam and delivered to the company prior 3 day of the meeting.
Contact details : 013-8333544
Additional information : fax 013-8333517