FIPCO EGM to vote on transferring SAR 17.4 mln statutory reserve, rebranding on Nov. 16

23/10/2023 Argaam

FIPCO converts subsidiary to joint stock, raises capital to SAR 70 mln

Logo of Filing and Packing Materials Manufacturing Co. (FIPCO)

Shareholders of Filing and Packing Materials Manufacturing Co. (FIPCO) will vote on transferring SAR 17.4 million from the statutory reserve as of Dec. 31, 2022, to retained earnings during the extraordinary general meeting (EGM) scheduled for Nov. 16.

 

Moreover, shareholders will vote on amending the company's bylaws in line with the new Companies Law, according to a statement to Tadawul.

 

Shareholders will also discuss changing the company's name to SAVA Investment Co., and amending Article No. 3 of its bylaws about the company's objectives.

Draft amendments to bylaws

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