Kuwait International Investment Holding Company (KIIC) will hold its Extraordinary General Meeting (EGM) for the financial year ended 31 December 2021, on Thursday, 16 June 2022, in order to approve the Board of Directors’ recommendation to increase the issued and fully paid-up capital from 33,527,969 shares to 40,233,562 shares, by distributing 20% bonus shares from the company’s issued capital, i.e., 6,705,593 shares, distributed to shareholders registered in the company’s records on the AGM date for the financial year ended 31 December 2021, and to authorize the Board of Directors to determine the methods and dates of that capital increase and the disposal of fractional shares, as well as all related procedures. Moreover, the EGM will also approve the Board of Directors’ recommendation to amend Article (6) of the Memorandum of Incorporation and Article (5) of the Company’s Articles of Association as follows:
“The Company’s authorized, issued, and paid-up capital was set at KWD 4,023,356.260, distributed over 40,233,562 shares, at a value 100 fils per share. All shares are fully paid and in cash. The Board of Directors is authorized to take the necessary measures in this regard”.
The EGM will also discuss the Board of Directors’ recommendation to amend Article (2) of the Memorandum of Incorporation and Article (1) of the Company’s Articles of Association as follows:
“The Company was established in accordance with the provisions of Decree-Law No. 25 of 2012 regarding the issuance of the Companies Law and its amendments, and this Memorandum of Incorporation between the owners of the Company’s shares whose provisions are hereinafter set out as a closed Kuwaiti shareholding holding company called International Kuwait Investment Holding Company (K.S.C.) Closed".