Al-Bareeq Holding Company has scheduled its Extraordinary General Meeting (EGM) on Wednesday, 7 June 2023 at its headquarters located at Al-Safat Tower, 12th floor, Beirut Street, Hawalli, Kuwait. The purpose of this meeting is to discuss the proposed increase in the company's authorized and fully paid-up capital from KWD 43.730 million to KWD 45.479 million. This increase will be achieved by issuing 17,492,000 bonus shares, equivalent to 4% of the company's authorized and fully paid-up capital, with a total value of KWD 1,749,200. These bonus shares will be distributed to shareholders who are registered in the company's records as of the maturity date pro rata to their respective stakes in the company. Furthermore, the EGM will grant authorization to the Board of Directors to handle any fractional shares resulting from this distribution.

The company’s EGM will also discuss the amendment of Article (6) of the Memorandum of Incorporation and Article (5) of the Articles of Association, as follows: The company’s authorized and fully paid-up capital was set at KWD 45,479,200, distributed over 454,792,000 shares, at a nominal value of 100 fils per share, and all shares are in cash.

The company advised that in case the legal quorum for the AGM and EGM were not met, the rescheduled meetings will take place on Wednesday, 14 June 2023, at the same location. The invitation for the original meetings will remain valid as well.