Gulf Union's GA disapproves BOD report and 2013's financial statements

14/05/2014 Argaam

Gulf Union Cooperative Insurance Company announced on Tadawul the results of the Ordinary General Assembly meeting held Tuesday May 13, 2014, as follows:

1-Disapproving BOD's annual report for the year ended December, 31, 2013.

2-Disapproving auditors' report for the financial year ended December, 31, 2013.

3-Disapproving the company’s annual financial statements including balance sheet and profit and loss account for the year ended December, 31, 2013.

4-Discharging BOD's members for their actions during the financial year ended December, 31, 2013.

5-Approving BOD's recommendation to appoint Price water House Coopers & Al-Bassam, chartered accountants and consultants to audit the company’s financial statements for the year ending December 31, 2014..

6- Approving all related party transactions for the year ended Dec, 31, 2013. 

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