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

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.