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Mekco Assembly Considers 291M Riyal Fund Reallocation
The article discusses the upcoming General Assembly meeting of Mepco scheduled for September 15, 2026. The meeting aims to approve the reallocation of 291.12 million riyals from the proceeds of the previous capital increase to support the fifth paper machine project (PM5). These funds were previously allocated for acquiring facilities in the corrugated carton sector, but the company has decided to redirect them to finance the paperboard production project in order to improve cash flow efficiency and reduce reliance on external financing. The agenda also includes a vote on the auditors' fees, with a quorum requiring the attendance of 25% of shareholders for the meeting to be valid. This move is intended to strengthen the group's financial position during the project's implementation phases.
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