Alliance Insurance PSC Announces AGM Details

The financial landscape of Dubai is set to witness another significant event as Alliance Insurance PSC prepares for its Annual General Assembly Meeting (AGM) on April 28, 2025. This meeting, which will be held at the company's head office and accessible remotely, will cover a range of crucial agenda items that could influence investor decisions and the company's future trajectory.

The AGM will commence with a review and approval of the Board of Directors' report on the company's activities and financial position for the fiscal year ending December 31, 2024. This is a vital step for shareholders, providing transparency and insight into the company's performance over the past year.

Additionally, the meeting will involve the approval of the auditors' report and the company's balance sheet and profit and loss account for the same fiscal period. These financial documents are essential for assessing the company's financial health and operational efficiency.

One of the most anticipated agenda items is the Board of Directors' proposal to distribute cash dividends amounting to 30% of the paid-up capital, equivalent to 30 million Dirhams (AED 30 per share). This proposal, if approved, reflects the company's commitment to rewarding its shareholders and could serve as a positive signal of its financial stability and profitability.

The AGM will also address the remuneration of the Board of Directors, proposing a sum of AED 1,062,555 for 2024. This proposal aligns with the company's Articles of Association and is subject to shareholder approval.

Another critical aspect of the meeting will be the discharge of the Board of Directors and auditors for the fiscal year ending December 31, 2024. Shareholders will have the opportunity to vote on whether to absolve these parties of their responsibilities or pursue liability lawsuits, depending on their performance and accountability.

The appointment or re-appointment of auditors for the year 2025 and the determination of their fees will also be on the table. This decision is crucial for ensuring the integrity and accuracy of the company's financial reporting.

Furthermore, the AGM will confirm the appointment of Mr. Khalid Al Mashani and Mr. Khalid Al Shamsi to vacant positions, pending approval from the Central Bank of the UAE (CBUAE). These appointments are strategic moves to strengthen the company's leadership team.

Given the comprehensive nature of the AGM agenda, shareholders are encouraged to participate actively, whether in person or remotely. The company has made provisions for electronic voting and live streaming to facilitate broader engagement.

In conclusion, while Alliance Insurance PSC appears to be on a stable financial footing, the outcomes of the AGM will provide clearer insights into its future prospects. For now, investors might consider holding their positions until the AGM results are fully disclosed and analyzed.