FADECO GA approves authorization of BOD to distribute interim profits of 2022

The Arabian Food and dairy Factory Company (FADECO) announced on Thursday the results of the Extraordinary General Assembly Meeting (the first meeting), which was held on Wednesday 28-12-2022 at the company’s headquarters in the city of Dammam in the First Industrial District (Al-Modon) – through modern technology using the Tadawulaty service; This is after the completion of the legal quorum for the validity of the meeting of the assembly.
Voting Results on the Items of the General Assembly’s Meeting Agenda’s:
1. Approving the amendment of Article (1) of the company’s bylaws related to the transformation.
2. Approving the amendment of Article (2) of the company’s bylaws related to the company’s name.
3. Approving the amendment of Article (14) of the company’s bylaws related to the shareholder register.
4. Approving the authorisation of the Board of Directors to distribute interim profits on a semi-annual or quarterly basis for the fiscal year 2022.