Spirit Technical Company held its Extraordinary General Meeting (EGM) on December 6, 2021 and passed a resolution to amortize its KWD 930,015 deferred losses as of 31/12/2021 so that the company’s capital would be reduced from KWD 1,930,015 to KWD 1 million. The EGM also approved to amend Article (8) of the Memorandum of Incorporation and Article (5) of its Articles of Association as follows: The Company’s authorized, issued and paid-up capital was set at KWD 1 million distributed over 10 million shares. The value of each share is (100) fils, and all shares are in cash.