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      OMAN UNITED INSURANCE

       Decisions passed at the Annual General Meeting dated 29th March 2018

      Apr 01, 2018 08:25 AM

       

      The Ordinary Annual General Meeting was held on Thursday 29th March 2018 at 5:00pm in the company’s head office  building 225 – Service road at Al-Khuwair  and the  following decisions were passed:

       

      1. The shareholders approved the Directors’ Report for the year ended 31st December 2017.

      2. The shareholders approved the company’s Corporate Governance Report for the year ended 31st December 2017.

      3. The shareholders approved Auditor’s Report and to approve the Balance Sheet and Profit & Loss account for the financial year ended 31st December 2017.

      4. The shareholders approved 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. The shareholders were ratified with the sitting fees paid to the Board of Directors and to the Board’s subcommittees during the year ended 31/12/2017, and approved the sitting fees for the year 2018

      6. The shareholders approved the proposed Board remuneration of RO. 113,235/- (OMR One Hundred Thirteen Thousand Two Hundred Thirty Five) for the year 2017.

      7. The shareholders were notified with the related party transactions during the year 2017

      8. The shareholders approved the related party transactions which will be executed during the year 2018

      9. The shareholders were notified with the social responsibility contribution of RO. 29,350 during 2017

      10. The shareholders approved the the proposal to allocate RO. 30,000/- (OMR. Thirty Thousand) for social responsibility in the year 2018, and to approve the same.

      11. The shareholders were notified with the report of Board appraisal for 2017.

      12. The shareholders elected 9 Board Members for the next board term from 2018 to 2021 as the following:-

      Sr. No.

      Director Name

      Basis of Membership

      Capacity of membership

      1.  

      Sayyid Salim Bin Nassir Al Busaidi

      In personal capacity

      Non Executive

      Non-Independent

      Shareholder

      1.  

      Mr. Saud  Bin Ahmed Al-Nahari

      In personal capacity

      Non Executive

      Independent

      Non- Shareholder

      1.  

      Mr. Nassir bin Khamis Al Hashar

      In personal capacity

      Non Executive

      Independent

      Non- Shareholder

      1.  

      Sayyid Khalid Bin Mahfoudh Al Busaidi

      In personal capacity

      Non Executive

      Independent

      Non- Shareholder

      1.  

      Mr. Mohamed Bin Noor Al Zadjali

      In personal capacity

      Non Executive

      Independent

      Non- Shareholder

      1.  

      Sayyid  Salim Bin Ahmed Al Busaidi

      In personal capacity

      Non Executive

      Independent

      Non- Shareholder

      1.  

      Mr. Mustafa Ahmed Salman

      In personal capacity

      Non Executive

      Independent

      Non- Shareholder

      1.  

      Mr. Ahmed Alawi Abdullah Al Ibrahim

      In personal capacity

      Non Executive

      Independent

      Non-Shareholder

      1.  

      Mr. Rahul Kar

      Representative of juristic person

      Non Executive

      Independent

      Shareholder

      1. The AGM appointed Moore Stephens to appraise the performance of Board for the next 3 years 2018-2021 (for one time) against fees of RO. 2,500.

      2.  The AGM appointed KPMG as Statutory Auditors for the year ending 31st December 2018, and approved their fees of RO. 14,800 against annual audit and quarterly review as well as the audit of Corporate Governance Report.

       

      Wesam Yousef Obaid

       Legal Advisor/ Secretary of the meeting

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