FIPCO fails to hold EGM due to lack of quorum

16/04/2023 Argaam
Logo ofFiling and Packing Materials Manufacturing Co.

Logo of Filing and Packing Materials Manufacturing Co.

Filing and Packing Materials Manufacturing Co. (FIPCO) did not hold the extraordinary general meeting (EGM) (first and second meetings) slated for April 13, due to lack of quorum, according to a statement to Tadawul.

 

Shareholders were supposed to vote on increasing capital through a SAR 115 million rights issue, the statement added.

 

FIPCO will subsequently call for a third EGM after obtaining the approval of the relevant authorities.

 

In February, the board of directors recommended to increase capital via a SAR 115 million rights issue, data compiled with Argaam showed.

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