Kuwait National Lube Oil Manufacturing Company has invited its shareholders to attend its next Annual General Meeting (AGM) to be held on Sunday, 16 April 2023 at its headquarters located in Al-Aqila area, Plot 5, Al-Bairaq Tower, 11th Floor . The AGM will discuss reducing the Company’s authorized, issued and paid-up capital from KWD 17,016,653  to KWD 3,164,016, down by KWD 13,852,637, to fully amortize the losses recorded in its financial statements for the financial  year ended 30 September 2022. Accordingly, the AGM will discuss the amendment of Article (6) of the Company’s Memorandum of Incorporation and Article (5) of the Articles of Association, as follows: The company’s authorized, issued and paid-up capital has been set at KWD 3,164,016, distributed over 31,640,160 shares, at a nominal value of 100 fils per share, and shares are in cash and in kind (cash shares at a value of KWD 2,938,821 , while in kind shares at a value of KWD 225,195),  subject to receiving approval from the competent authorities.