Further reference to FIPCO announcements published on Tadawul website on Tuesday, 27 of Muharram 1439H corresponding to Oct. 17, 2017, including that FIPCO has finalized all procedures related to establishing the new company under the name of (FPC Industries Co. ltd) with a primary capital of SAR 10,000 for the establishment stage. FIPCO is pleased to announce for its shareholders that the required procedures has been taken in order to increase the capital of FPC Industries from SAR 10,000 to SAR 18,000,000 with an increase of 179900%, for the purpose of supporting and developing FPC business activities.

The capital increment will be financed from credit balance due to the partners amounted to SAR 17,990,000

Any material developments in this regard will be announced in due course.