UCA shareholders approve FY2019 board, audit reports

United Cooperative Assurance Co.’s (UCA) shareholders approved audited financial statements and audit report for the fiscal year 2019 during the general assembly meeting held on June 15, 2020, the company said in a bourse statement.

Shareholders also approved the board report for the same period and discharged board members from liabilities during FY2019.

In addition, they approved other items on the meeting’s agenda including board remuneration of SAR 883,000 for FY2019 and appointing external auditor to audit the company’s financial statements for Q2, Q3, and Q4 2020, as well as FY2020 and Q1 2021.

Meanwhile, they approved related party transactions and appointing Bahaa Khashogji as independent board member as of November 4, 2019 until the end of the current term on December 31, 2020.