Kuwait Medical Services Company has announced a capital increase and has invited its shareholders to subscribe to it. This decision was made during an Extraordinary General Meeting (EGM) held on 29 March 2023. The Ministry of Commerce and Industry has issued an annotation in the Commercial Register on 19 April 2023, which permits the company to offer 15 million shares for private subscription. These shares have a nominal value of 100 fils and no issuance premium. Shareholders can pay for the shares in one payment at the rate of 7.5% of their interests in the company’s capital, as registered in the shareholders’ register kept by Kuwait Clearing Company (KCC), on the day before the actual opening of private subscription. The Board of Directors is authorized to set the conditions and controls for the subscription process.

The Company’s Chairman announced that the subscription for the offered capital increase is as follows:

The subscription period starts today, Thursday, 20 April 2023 (inclusive) and ends on May 4, 2023 (inclusive). The subscription price is 100 fils per share without issuance premium. – Rights issue: Who is entitled to subscribe - The company's shareholders registered in the shareholders' register at Kuwait Clearing Company on the due date, 20 April 2023, are entitled to subscribe for 7.5% of their ownership in the company's capital. Subscribing to additional shares: Eligible subscribers are entitled to subscribe to additional shares on top of their rights issue. - In the event that the subscription requests exceed the number of offered shares, they will be allocated to the subscribers pro rata to their ownership in the issued shares. - In the event that the subscription requests exceed the number of offered shares, they will be allocated to the subscribers pro rata to their ownership in the issued shares. - In the event that the shareholders do not subscribe to all of the new shares, the Board of Directors may allocate the unsubscribed shares to new shareholders, and this will result in canceling the subscription for these shares only.

He clarified that the required documents include filling out the subscription application along with submitting a copy of the civil ID for individuals and a copy of the commercial registry for companies. The method of payment is as follows: By bank transfer or cash deposit directly into the account of Kuwait Medical Services Company at Al-Ahli Bank of Kuwait - the main branch.