Al-Ritaj Investment Company held its Extraordinary General Meeting (EGM) on Thursday, 20 October 2022, at the Company's headquarters, and approved to reduce its authorized, issued, and paid-up capital from KWD 25.026 million to KWD 17.7 million, by reducing the number of shares to 177,144,570 shares, in order to write off a portion of the accumulated losses totaling KWD 7,312,393, after using the entire issued premium, statutory reserve, and voluntary reserve.

The EGM also approved to amend Article (8) of the Memorandum of Incorporation and Article (7) of the Articles of Association, as follows: The Company’s authorized, issued, and paid-up capital was set at KWD 17,714,457, distributed over 177,144,570 shares, at a nominal value of 100 fils per share, and all shares are in cash.