UCA shareholders approve amendments to articles of association

United Cooperative Assurance Co.’s (UCA) shareholders approved amending a number of articles of association, during the extraordinary general meeting (EGM) held on Oct. 19, according to a bourse filing.

The amended articles of association include articles related to participation and ownership in companies, head office, investment, shares trading, capital increase, capital reduction and management, in addition to other articles.

Shareholders also approved delegating the board of directors the powers of the general assembly for one year until the date of the general assembly’s approval or the end of the current board term, whichever is earlier.

Meanwhile, they approved discharging board members from liability for 2021, and ratified board's report for the same year.