Al-Fanar Investment Company held its Extraordinary General Meeting (EGM) for the financial year ended 31 December 31 on Sunday, 9 January 2022, and passed a resolution amending Article (2) of its Memorandum of Incorporation and Article (1) of its Articles of Association as follows: The name of this company is Al-Fanar Investment Holding Company (Closed Kuwaiti Shareholding Company). The EGM also approved to amend Article (5) of the Memorandum of Incorporation, and Article (4) of its Articles of Association as follows:
The objectives for which the company was established are as follows:
The management of its subsidiaries or participation in the management of other companies in which it holds stake in their capital, as well as providing the necessary support. In this case, it is determined that the holding company's stake in the capital of the borrowing company shall not be less than 20% at least. Own industrial property rights, patents, industrial trademarks, industrial designs or any other rights, for its own use and to rent them to others in Kuwait and abroad. Utilize the Company's surplus to invest it in financial portfolios managed by specialized companies.