Salama shareholders to vote on board, audit reports on June 16

Salama Cooperative Insurance Co.’s shareholders will vote on financial statements, as well as board and auditor reports for fiscal year ending Dec. 31, 2019, during the ordinary general meeting (OGM) slated for June 16, the company said in a bourse statement on Wednesday.

They will also appoint a new auditor for Q2, Q3, Q4, FY2020 and Q1 2021, in addition to vote on business contracts signed with The National Shipping Company of Saudi Arabia (Bahri) in 2019.

In addition, they will approve board remuneration of SAR 1.6 million for FY2019.

Earlier today, the insurer announced that shareholders will also vote on dismissing the current board directors and electing a new board of directors for the coming board term starting June 16, 2020.

Shareholders will participate in the meeting through electronic voting as of June 12, in line with the Capital Market Authority's (CMA) circular issued, on March 16, enabling shareholders to participate and vote on general meeting agenda items through Tadawulaty system in line with the government’s efforts to prevent spread of coronavirus.