Al-Rai Media Group Company will hold its Extraordinary General Meeting (EGM) on Tuesday, 14 April 2022 at the company’s headquarters, to discuss the board of directors’ recommendation to increase the company’s authorized capital from KWD 10,349,381.100 Kuwaiti dinars distributed over 103,493,811 shares to KWD 16,349,381.100 distributed over 163,493,811 shares, at a nominal value of 100 fils per share, provided that a resolution is issued by the board of directors to increase the issued and fully paid-up capital within the limits of the authorized capital, The board of directors was authorized to determine the amount and methods of the increase, the date(s) of its recall and all its other terms and conditions, in addition to disposing of the fractional shares (if any) that result from the increase as it deems appropriate. The board may determine an issuance premium to be added to the nominal value and may seek the assistance of any party as it deems appropriate, taking into account all requirements as stipulated by the law and its executive regulations, as well as the resolutions and instructions issued by the supervisory authorities.

The EGM will also discuss the amendment of Article (6) of the Memorandum of Incorporation and Article (5) of Chapter One (B) of the company’s Articles of Association regarding the company’s capital, subject to receiving regulatory approvals, as follows: The company’s authorized capital has been set at KWD 16,349,381.100 distributed over 163,493,811 shares, the value of each share is 100 fils, and all shares are in cash. The company’s issued and paid-up capital has been set at KWD 10,349,381.100 distributed over 103,493,811 shares, the value of each share is 100 fils, and all shares are in cash.