F&S Holding Company held its Extraordinary General Meeting on Wednesday, December 8, 2021, and passed a resolution to increase its capital by adding 20 million shares at a nominal value of 100 fils per share for a total value of KWD 2 million to be paid in cash in one installment. The Company’s number of shares after the capital increase shall 41,001,000 shares, at a nominal value of 100 fils per share, for a total value of KWD 4,100,100, provided that the subscription is limited to the Company’s shareholders as of the EGM’s date.
The Board of Directors is authorized to offer the unsubscribed shares to other parties if the capital increase was not fully subscribed by the current shareholders during the subscription period. They may also extend the subscription period or cancel the unsubscribed shares. The Board of Directors is also authorized to take all measures related to increasing the company’s capital and the subscription thereof. Accordingly, it was approved to amend Article (6) of the Memorandum of Incorporation and Article (5) of the Articles of Association as follows:  The Company’s authorized and issued capital is KWD 4,100,100 million, distributed over 41,001,000 shares. The value of each share is (100 fils), and all shares are in cash.
The Company’s paid-up capital was set at KWD2,100,100 distributed over 21,001,000 shares, the value of each share is 100 fils and all shares are in cash, subject to receiving regulatory approvals.