FIPCO agrees to transfer SAR 17.3 mln from statutory reserve to retained earnings

Filling and Packing Materials MFG. Co. (FIPCO) announced on Sunday the results of its extraordinary general assembly Meeting No. 11 (Third meeting) that took place on 16/11/2023 at 7:00 PM through modern technology.

Voting Results:

1- Approve the amendment of the Company’s Bylaws in accordance with the new Companies Law.

2- Approve the amendment of Article (2) of the company’s bylaws relating to (Company Name).

3- Approve the amendment of Article (3) of the company’s bylaws relating to (The objectives of the company).

4- Approve transferring the balance of the statutory reserve amounting to SAR (17,388,320) as shown in the Financial Statements for the year ended 31 December 2022 to the retained earnings.