1.     Approval of theDirectors’ report for the year 2017.

2.     Approval of theAuditors report for the year ended December 31, 2017.

3.     Discussed &approved the company’s financial position and Profit & Loss statement for theyear ended December 31, 2017

4.     Approved therecommendation of the Board of Directors for the distribution of profits forthe year 2017 and the retained earnings of the year 2016 as follows:

�        AED 4,816,685 to betransferred to the Legal Reserve as 10% of the net profit for the year 2017.

�        AED 4,816,685 to be transferredto the Regular Reserve as 10% of the net profit for the year 2017.

�         - AED 30,000,000 (30%ofpaid-up capital) as cash dividend to shareholders.

�         - AED 10, 000,000 to betransferred to the General Reserve.

�         - AED 1,341,342 Director’sRemuneration.

�         - AED 2,815,483 RetainedEarnings carried forward to next year.

5.     Discharged theBoard of Directors from their responsibility for the year ended December31,2017.

6.     Discharged theAuditors from their responsibility for the year ended December 31, 2017 

7.     Re-appointed theAuditors “Grant Thornton” for the year 2018 and determine their fees AED180,000/-.

8.     Nominated beloware Board Members for the next term after withdrawal of Ms. Maitha Juma SaifBin Bakhit from nomination.

�        H.H. Sheikh Ahmed Bin SaeedAlMaktoum                            

�        Mr. Saeed Mohammed AliAlkamda                                                       

�        Mr. Bijan Khosrowshahi                                                                  

�        Mr. Ashraf Sherbaz Nawabi

�        Mr. Ahmad Saif RashidBakhit Alfalasi                                    

�        Mr. Mohammad Juma Saif BinBakhit

�        Mr. Khalifa Salim HumaidAlmashwi Alsuwaidi                       

�        Mr. Ali Mubarak Al Soori

�        Mr. Aimen Saba Azara          

Weare pleased to inform you that the General Assembly meeting of Alliance Insurance PSC was held on Wednesday, 29/3/2017 at 11:00 am and the following was approve:

1. Board of Directors’ report for the financial year ended 31/12/2016.

2. Auditors’ report for the financial year ended 31/12/2016.

3. Financial Statements for the year ended 31/12/2016.

4. Board of Directors’ suggestions in respect of distributing 2016 profit and retained earnings of the last year.

a) Transfer 10% of the net profit for the year 2016 amounting AED 4,510,386/- to legalreserve.

b) Transfer 10% of the net profit for the year 2016 amounting AED 4,510,386/- to statutoryreserve.

c) Distribute 25% of the paid up capital amounting AED 25,000,000/- as dividend to theShareholders.

d) Transfer AED 10,000,000/- to General Reserve.

e) Directors’ remuneration of AED 1,243,332/- for the year 2016 as per Company’s guidelines.

f)  Transferthe balance of the Profit of AED 5,576,864/- to next year.

5. Discharging Chairman, Board of Directors from their responsibility for the year ended 31/12/2016.

6. Discharging Auditors from their responsibility for the year ended 31/12/2016.

The following point has been approved:

1. Amend the Articles of Association of Alliance Insurance in line with the provisions of the Federal Law No. 2 of 2015 on commercial companies.

Board of Directors’ report and Auditor’s report for the financial year ended 31/12/2014.

Financial Statements for the year ended 31/12/2014.

Election of Board Members for the period 2015 – 2018.

Appointing Auditors M/s.“Deloitte & Touche” for the year 2015 and determined their fees.

Board of Directors’ suggestions in respect of distributing 2014 profit and retained earnings of the last year.

Directors’remuneration for the year 2014 as per Company’s guidelines.  

Discharging Chairman, Board of Directors and Auditors from their responsibility for the year ended 31/12/2014.