Salama Insurance GA absolves BOD members from liability for 2021

Salama Cooperative Insurance Company announces the results of the Ordinary General Assembly meeting (first meeting), which was held at 06:30 pm on Sunday 27/11/1443 AH corresponding to 06-26-2022 AD.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1 Approval of the report of Board of Directors for the fiscal year ending on December 31, 2021 AD.

2 Approval of the company’s auditors’ report for the fiscal year ending on December 31, 2021 AD.

3 Approval of the company’s financial statements for the fiscal year ending on December 31, 2021 AD.

4 Approval to absolve the members of the Board of Directors from liability for the fiscal year ending on December 31, 2021 AD.

5 Approval of the amendment to the remuneration policy of the Council, its committees, and the executive management.

6 Approval of the amendment of the company’s corporate governance regulations.

7 Approval of the amendment of the criteria and procedures for nomination and appointment to the membership of the Board of Directors.

8 Approval of the amendment of the work of the audit committee.

9 Disapproval of disbursing the amount of (1,304,821) remuneration to members of the Board of Directors for the fiscal year ending on December 31, 2021 AD.

10 Approving the appointment of the Company’s auditors from among the candidates on the recommendation of the Audit Committee; This is for examining, reviewing and auditing the financial statements for the second, third and annual quarters of the fiscal year 2022 AD, and the first quarter of the fiscal year 2023 AD, and determining their fees.

Salama Cooperative Insurance Co would like to clarify the name of the company’s external auditor, who was appointed in the general meeting assembly meeting on June 26, 2022.

1- PKF AlBassam & Partner

2- Crowe Global/ AlAzemm AlSudairy, AlShaikh & Partner

In order to examine, review and audit the financial statements for the second, third quarter and annual of fiscal year 2022, and the first quarter of fiscal year 2023, and determine their fees.