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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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