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FILLING & PACKING MATERIAL. MFG. CO. (FIPCO) announces of renewal banking facility agreement (Shariah-compliant) with Bank Albilad

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Introduction Filling and Packing Materials MFG. Co. (FIPCO) announces of renewal banking facility agreement (Shariah-compliant) with Bank Albilad as follows:
Date of Receiving the Credit Facility 2020-04-27 Corresponding to 1441-09-04
Financier Bank Albilad
Credit Facility value SR 30 Million
Credit Facility duration one year starting from Mar. 25, 2020 and ends in Mar. 25, 2021
Guarantees Provided for Credit Facility The facility is secured by a promissory note in favor of Bank Albilad
Purpose of the Credit Facility The purpose of this facility is to finance the working capital for FIPCO and its subsidiary (FPC Industries Co.)
Related Parties No related Parties involved in this agreement.
Additional Information The final approved agreement was obtained on 27/04/2020.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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