Cairo – Mubasher: Arab Dairy Products Co’s (Panda) ordinary general meeting (OGM) has endorsed the company’s 2018 financial statements.
The OGM has also decided not to distribute dividends to shareholders for 2018, the dairy producer said in a statement to the Egyptian Exchange (EGX) on Monday.
Moreover, the OGM has approved the board’s and audit’s reports on 2018 business, according to the statement.
Furthermore, the OGM decided to sign a contract with Universal Co. For Packing Materials and Paper (Unipack) or Developed Arab Company for Trade and Import to purchase packing materials based on the prices.
The OGM also agreed to seal several insurance policies with Delta Insurances based on the best prices.
Panda previously announced it had logged EGP 41.29 million in consolidated during the 12-month period ended December 2018, against a net loss of EGP 29.32 million in 2017, including minority shareholders’ rights.
