Most Important Decisions Passed by the Board

17/02/2014 09:49 AST

We would like to announce that the Board of Oman United Insurance Company held a meeting on Sunday- Yesterday evening 16th February 2014, and approved the audited financial statements for the period ended 31/12/2013. Hereinafter the most important Board decisions:

Firststly. Approval of Audited Financial Statements as at 31st December 2013.

Secondly: Dividends The Board recommends to distribute cash dividends of 35% of the paid up capital i.e. (35 Bzs.) per share. The recommendation has been put forward to the AGM of the company scheduled on 30/3/2014.

· Note: As per insurance Companies' law, an amount of RO. 1,197,232 /- (2012 - RO. 997,071) has been provided for contingency reserve from net profit. The said reserve is a part of the shareholders' equity . Now the accumulated contingency reserve stands at RO. 6,896,596/- as at 31st December 2013. The company shall continue reserving for contingency reserve till equalize the company's paid up capital.


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