Gulf General agrees to increase the number of Audit Committee seats to four

The Gulf General Cooperative Insurance Company announces the results of the Ordinary General Assembly meeting (the second meeting), due to the lack of quorum in the first meeting and accordingly, the second meeting was held on Monday, 13 February 2023, the percentage of attending Shareholders was 21.15% through means of modern technology.
Voting Results on the Items of the General Assembly’s Meeting Agenda’s
1. Approval of the Board resolution to appoint (Dr. Abdulraaouf Sulaiman Banaja – Member from outside the board) as an Audit Committee member, starting from 28/12/2022. until the end of the current committee term on 10/04/2025, to succeed the former committee member (Mr. Jawdat Musa Alhalabi – Member from outside the board), effective from 28/12/2022. This appointment is in accordance with the Audit Committee Regulations.

2. Approval of increasing the number of Audit Committee seats from (3) to (4) seats, whereby the number of Audit Committee members becomes (4) members, by appointing (Dr. Ahmed Seraj Khogeer – Independent member) as a member of Audit Committee starting from the date of the assembly approval until the end of the current committee term of office on 10/04/2025.
3. Approval of amending the Corporate Governance Regulations.
4. Approval of amending the Audit Committee Charter.
5. Approval of amending the Nomination and Remuneration Committee Charter.
6. Approval of amending the Risk Management Committee Charter.
7. Approval of amending the Remuneration and Compensation policy for the Board Directors, committees, and executive management.