Further to the announcement published on Tadawul website on 13/11/2014 regarding the recommendation of the Board of Directors to increase the company's capital worth 220 million riyals by offering shares priority rights. Gulf Union Cooperative Insurance Company wishes to inform its shareholders that the Saudi Arabian Monetary Agency (SAMA) invited Ms. Chairman and Members of the Board of Directors to meet at its Headquarters in Riyadh on December 14, 2014. Where they have discussed the current situation of the company and the perception of the Board of Directors to finalize the current predicament over raising the company's capital and the difficulties that the company is facing. By result of the meeting, SAMA has requested the Board of Directors of Gulf Union Cooperative Insurance Company to prepare an action plan to overcome these difficulties within 30 days from the date of the above-mentioned meeting.