NCM Investment Company held its Extraordinary General Meeting (EGM) No. (1) for 2022 on Monday, 18 April 2022, and agreed to increase its capital from  KWD 10 million to KWD 15 million, i.e. by KWD 5 million, distributed over 50 million shares, at a nominal value of 100 fils per share,  based on the company’s board of directors’ recommendation, and to allocate this capital increase through private offering to new shareholders, as the Company’s existing shareholders waived their rights in this capital increase in advance. The company approved offering 50 million of the company’s shares in a private subscription at a price of 200 fils per share inclusive of expenses and issuance premium to new shareholders to reconcile its position in preparation for listing the company's shares on Boursa Kuwait.
Accordingly, the EGM approved to amend Article (6) of the Memorandum of Incorporation and Article (5) of the Articles of Association as follows: “The Company’s authorized and issued capital was set at KWD 15 million, distributed over 150 million shares and all shares are in cash. The company’s paid-up capital was set at KWD 10 million, distributed over 100 million shares and all shares are in cash.
The company also agreed to amend Article (2) of the Memorandum of Incorporation and Article (1) of the Company's Articles of Association, as follows: - Article before the amendment: "The Company's name is NCM Investment Company (a Closed Kuwaiti Shareholding Company)". - The amended Article: “The Company's name is NCM Investment (a Kuwaiti Public Shareholding Company).”