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     Invitation for an Annual Ordinary General Meeting

    Feb 28, 2018 01:47 PM


    Invitation to attend the Annual General Meeting


    The Board of Directors of Oman United Insurance Company SAOG have the pleasure to inviting the honorable shareholders to attend the Annual General Meeting to be held on Thursday 29th March 2018 at 5:00pm in the company’s head office  building 225 – Service road at Al-Khuwair to discuss the following agenda:




    1. 1.      To study and approve the Directors’ Report for the year ended 31st December 2017.
    2. 2.      To study and approve the company’s Corporate Governance Report for the year ended 31st December 2017.
    3. 3.      To study the Auditor’s Report and to approve the Balance Sheet and Profit & Loss account for the financial year ended 31st December 2017.
    4. 4.      To study and approve the proposal to distribute cash dividends (at AGM Date) of 30% of company’s capital i.e.   (30 Bzs.) per share to the shareholders for the year ended 31st December 2017.
    5. 5.      To ratify the sitting fees paid to the Board of Directors and to the Board’s subcommittees during the year ended 31/12/2017, and to determine the sitting fees for the year 2018ز
    6. 6.      To approve the proposed Board remuneration of RO. 113,235/- (OMR One Hundred Thirteen Thousand Two Hundred Thirty Five) for the year 2017.
    7. 7.      To notify the shareholders with the related party transactions during the year 2017 .
    8. 8.      To approve the related party transactions which will be executed during the year 2018 ?
    9. 9.      To notify the shareholders with the social responsibility contribution of RO. 29,350 during 2017.
    10. 10.  To study the proposal to allocate RO. 30,000/- (OMR. Thirty Thousand) for social responsibility in the year 2018, and to approve the same.
    11. 11.  To study the report of Board appraisal for 2017.
    12. 12.  To elect new board of directors (from shareholders and Non-shareholders). Anyone who wishes to nominate himself He / She shall fill the form prescribed for this purpose and submit it to the company within two days prior to the Annual General Meeting (on or before  Monday 26/3/2018). No forms will be accepted after this date. If the candidate is a shareholder, then and in accordance to the company’s article of association he / she is required to own one million Shares of the company at the annual general meeting date.
    13. 13.  To appoint an independent party to appraise the performance of Board for the next 3 years 2018-2021 (for one time) according to the benchmark and standards that approved by AGM last year and to approve their fees.
    14. 14.  To appoint Statutory Auditors for the year ending 31st December 2018, and approve their fees.




    In accordance with the Company's Articles of Association, each shareholder is entitled to give a written proxy to another person to attend the meeting and vote on his/her behalf.


    Shareholders shall complete the proxy form which is enclosed with the invitation. Natural shareholders persons must sign the proxy form and enclose copies of their IDs. Female shareholders and underage shareholders who do not have IDs shall enclose copies of their passports with their proxy forms. Non-Omani shareholders shall enclose along with their completed proxy forms copies of their resident cards or copies of their passports. Proxy forms for corporate persons shall be stamped and signed by their authorized signatories. Copies of registration documents with the Ministry of Commerce & Industry as well as their authorized signatories’ sheets must be enclosed with their completed stamped and signed proxy forms.


    Shareholders and their representatives are requested to make themselves available at the venue of the meeting half an hour prior to the meeting time.




     For further information, please contact Sayyid Mohamed Bin Qahtan Al Busaidi on phone No.24477373.


    Note: OUIC as SAOG Company shall deposit the investors' funds unclaimed within a period of six months from its due date to the Investors' Trust Fund. Shareholders are advised to refer to the Muscat Clearance & Depository Company to enquire about any amounts due for them.


    There are some unclaimed dividends laying at Investors' Trust Fund therefore Capital Market Authority requests the shareholders to refer to Muscat Clearance & Depository Company to collect their dividends.

    SALIM BIN NASSIR AL BUSAIDI         KPMG                                   WESAM YOUSEF OBAID

    CHAIRMAN                                     EXTERNAL AUDITOR                      LEGAL ADVISOR