| Element List | Explanation |
|---|---|
| Introduction | FIPCO is pleased to announce for the distinguished shareholders that it has signed financing agreement with SIDF as follows: |
| Date of obtaining the funding | 2021-12-15 Corresponding to 1443-05-11 |
| Financing entity | THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF) |
| Financing amount. | SR 15,1 million |
| Financing duration. | The loan will be repaid in 12 unequal, semi-annual installments, starting from 15/08/1445H, over a period of seven years, as agreed with SIDF. |
| Guarantees offered for the financing | Plant assets will be mortgaged to SIDF as well as signing of a promissory note at the benefit of SIDF. |
| Financing objective | Financing an expansion of all products of small, jumbo and valve bags aiming to increase the production capacity (Productivity) and improve the quality levels. |
| Related Parties | No related Parties involved in this agreement. |
The Capital Market Authority and Saudi 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.