Filling and Packing Materials MFG. Co. (FIPCO) announces the results of its 29th General Assembly Meeting, which was held on Tuesday 24/03/1439H Corresponding to 12 of Dec. 2017 at 07:30 PM at FIPCO head office, located in 2nd industrial area, Kharj road, Riyadh.

Because of the lack of a quorum required for the first meeting, the second meeing is accordingly took place after one hour with a quorum of 12.75 % of the companys capital as previously mentioned in the AGM invitation.

In view of voting results, the AGM by majority has approved the following:

1- The updated policies and procedures of Board membership.
2- The updated charter of Nomination and Remuneration Committee.
3- The remuneration policy for the board members, board committees and senior executives.
4- The Board of Directors recommendation not to distribute cash dividends to the shareholders for the financial year ending 31/12/2017 in order to finance the expansion plans.