Khalid Al-Zaid Al-Khalid Trading and General Contracting Company held its Extraordinary General Meeting (EGM) on Wednesday, 12 January 2022, and passed a resolution  to reduce its authorized capital from KWD 1 million  to KWD  990,835, distributed over 9,908,350 shares at a nominal value of 100 fils per share. Accordingly, Article (7) of the Memorandum of Incorporation and Article (5) of the Articles of Association were amended as follows: The Company’s authorized, issued and paid-up capital has been set at KWD 990,835, distributed over 9,908,350 shares. KWD 250,000 in cash and 740,835 in-kind, at a nominal value of 100 fils per share.

The company’s EGM also passed a resolution to amend Article (5) of the Memorandum of Incorporation and Article (4) of the Articles of Association as follows: Without prejudice to the provisions of Law No. 25 of 2012 Promulgating the Companies Law, its amendments and its executive regulations, the objectives for which this company was established are:

All types of infrastructure, sewers and utilities tunnels, and reservoirs -  Contracting and engineering, maintenance and installation services of precision machines, measurement and calibration equipment - Pipe laying and installation of all shapes and sizes. Precision cutting using plasma, water, etc. Sandblasting and painting. - Providing fixed and mobile scaffolding services. All types of welding. Representing global and regional mechanical contracting and consulting companies. -           Mechanical, electrical, sanitary and construction maintenance - Steel works and steel buildings. Own movable assets and real estate properties required to carry out the Company’s activities within the limits permitted by law. Utilize the Company's surplus to invest it in financial portfolios managed by specialized companies. - The Company may carry out the above-stated objectives in Kuwait or aboard on its behalf or on behalf of others.