Al-Mutatawera Services Holding Company held its Annual General Meeting (AGM) on Tuesday, 31 January 2023, and approved to increase the Company’s authorized, issued and paid-up capital from KWD 5 million to KWD 6 million, i.e., by KWD 1 million, distributed over 10 million shares, at a nominal value of 100 fils per share, by distributing bonus shares for shareholders registered in the Company's records as of the AGM’s date. Moreover, the AGM authorized the Board of Directors to dispose of fractional shares, if any.
The AGM also approved amending Article (6) of the Company 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 million, distributed over 60 million shares, at a nominal value of 100 fils per share, and all shares are in cash.