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      OMAN UNITED INSURANCE

       Decisions passed at the Annual General Meeting dated 28th March 2017

      Mar 28, 2017 04:41 PM

      The Board of Directors of Oman United Insurance Company SAOG have the pleasure to inform the honorable shareholders  and investors’ community with the decisions which have been approved by shareholders at the Annual General Meeting held on yesterday Tuesday 28th March 2017, at 3:00 p.m. in the company’s Head Office at Al-Khuwair:
      1. The shareholders approved the Directors’ Report for the year ended 31st December 2016.
      2. To shareholders approved the  Corporate Governance Report for the year ended 31st December 2016.
      3. The shareholders approved the Balance Sheet and Profit & Loss account for the financial year ended 31st December 2016.
      4. The shareholders approved the proposal to distribute cash dividends of 30% of company’s capital i.e. (30 Bzs.) per share to the shareholders for the year ended 31st December 2016.
      5. The shareholders ratified the sitting fees paid to the Board of Directors and to the Board’s subcommittees during the year ended 31/12/2016, and approved the sitting fees for the year 2017.
      6. The shareholders approved the Board remuneration of RO. 124,500/- (OMR.  One Hundred Twenty Four Thousand and Five Hundred only) for the year 2016.
      7. The shareholders were notified with the related party transactions during the year 2016.
      8. The shareholders approved the related party transactions which will be executed during the year 2017.
      9. The shareholders were notified with the details of social responsibility contribution  amounted to RO. 29,501 during 2016.
      10. The shareholders approved the proposal to reserve RO. 30,000/- (OMR Thirty Thousand) for social responsibility in the year 2017.
      11. To shareholders appointed KPMG as the Statutory Auditors for the year ending 31st December 2017 and approved their total audit fees of RO. 14,000.
      12. The shareholders approved the benchmark and standards whereby to evaluate the performance of the Board members.
      13. The shareholders approved the proposal to appoint MOORE STEPHENS as an independent party to appraise the performance of Board for the year ending 31st December 2017, against fees of RO. 3,750.

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