FIPCO shareholders approve name change to SAVA Investment

19/11/2023 Argaam

FIPCO shareholders approve name change to SAVA Investment

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

Shareholders of Filing and Packing Materials Manufacturing Co. (FIPCO) approved changing the company's name to SAVA Investment Co. during the extraordinary general meeting (EGM) held on Nov. 16.

 

In addition, shareholders ratified transferring SAR 17.39 million from the statutory reserve as of Dec. 31, 2022, to retained earnings, according to a statement to Tadawul.

 

They also approved amending the company's bylaws in line with the new Companies Law, as well as Article No. 3 on the company's objectives.

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