Gulf Union shareholders approve board, audit reports for FY2019

Gulf Union Cooperative Insurance Co.’s shareholders approved audited financial statements and audit report for the fiscal year 2019 during the general assembly meeting held on June 23, 2020, the company said in a bourse statement.

Shareholders also approved the board report for the same period as well as discharging members of the board of directors from liabilities during FY 2019.

In addition, they approved other items on the meeting’s agenda including appointing external auditor to audit the company’s financial statements for Q2, Q3 2020, annual financials for 2020 and Q1 2021.

Meanwhile, they approved board remuneration for FY2019, as well as bylaws related to board remuneration policy and related party transactions.