Kout Food Group held its Extraordinary General Meeting (EGM) on Wednesday, 30 March 2022 at the company’s headquarters, and approved the board of directors’ recommendation to reduce the company’s authorized, issued and paid-up capital from KWD 6,725,717 to KWD 6,691,869.500, i.e., a reduction of KWD 33,847.500 by canceling 338,475 out of 413,475 treasury shares owned by the company, so the balance of the treasury shares will be 75,000 shares in accordance with the procedures followed by the Capital Markets Authority. The EGM also authorized the Chairman and CEO to take all measures and sign all requests and documents of any nature as well as to take all necessary actions needed in this regard.

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, issued, and paid-up capital was set at KWD 6,691,869.695, distributed over 66,918,695 shares, at a nominal value of 100 fils per share, and all shares are in cash. This amendment is subject to receiving regulatory approvals.