‘Wafa’ GA disapproves discharging BOD members from liability for FY 2019

Saudi Indian Company for Cooperative Insurance (Wafa) announced on Wednesday the results of the Ordinary General Assembly including the disapproving of discharging the members of the Board of Directors from liability for the financial year ending on 31.12.2019.

The (Second Meeting) by means of modern technology, held at 08:30 PM on Tuesday 23.11.2021, after one hour at the end of the period specified for the first meeting (this is due to incomplete quorum required for the first meeting) and the percentage of attending shareholders is 6.89%.

The meeting included the following:

1-Approve the Board of Directors’ report for the financial year ending on 31.12.2019.

2-Approve the company’s auditor’s report for the financial year ending on 31.12.2019.

3-Approve the financial statements for the financial year ending on 31.12.2019.

4-Not approve discharging the members of the Board of Directors from liability for the financial year ending on 31.12.2019.

Names of the Board of Directors’ Members Present at the General Assembly’s Meeting:

1. Majid Ahmed Alsuwaigh (Chairman of the Board)
2. Raad Nasser Al Qahtani (Vice chairman of the Board)
3. Abdullah Hamdan Al Kanhal
4. Abdulwahab Ahmed Abed
5. Hassan Mohamed Al Amri

Names of the Chairmen of the Committees Present at the General Assembly’s Meeting:

1. Majid Ahmed Alsuwaigh (Chairman of the Executive Committee)
2. Raad Nasser Al Qahtani (Chairman of Investment Committee)
3. Abdullah Hamdan Al Kanhal (Chairman of Nomination and Remuneration Committee)
4. Abdulwahab Ahmed Abed (Chairman of Audit Committee)