Salama shareholders approve 2020 board, audit reports

Salama Cooperative Insurance Co.’s shareholders approved the board and auditor reports, as well as financial statements for 2020, during the extraordinary general meeting (EGM) held on June 13, the insurer said in a bourse filing.

Shareholders approved appointing Ibrahim Ahmed Albassam & Co. and Al Azem, Al Sudairy, Al Shaikh & Partners CPA's & Consultants (member firm of Crowe Global) external auditors to review financials of Q2, Q3, Q4 2021, and Q1 2022.

They also endorsed discharging board members from liability for 2020 and paying SAR 1.2 million in board remuneration for the same year.

During the meeting, shareholders approved amending the company’s bylaws related to purpose, ownership, share transfer, capital increase, management and several others.