Kuwait Medical Services Company held its Extraordinary General Meeting on Thursday, August 26, 2021 and approved the Board of Directors’ proposal to increase the company’s authorized, issued and paid-up capital from KWD 7,623,000 to KWD 20 million in cash and in one installment. This is an increase of KWD 12,377,000 to be offered to the shareholders registered in the company’s records on the day prior to calling the capital increase. Shares are offered at a price of 100 fils / share, with no premium. The board of directors is authorized to set the conditions and rules related to calling the capital increase.
Accordingly, Article (6) of its Memorandum of Incorporation and Article (5) of it Articles of Association have been amended to reflect the following: The company's authorized capital was set at KWD 20 million distributed over 200 million shares. The value of each share is 100 fils, and all shares are cash. The issued and paid-up capital was set at KWD 7,623,000 distributed over 76,230,000 shares at a nominal value of 100 fils, and all shares are cash. This increase is subject to receiving all regulatory approvals from the competent authorities.