Real Estate Construction & Fabrication Company (RECAFCO) held its Extraordinary General Meeting (EGM) on Monday, 12 June 2023, and approved the Board of Directors’ recommendation to increase the company’s issued and paid-up capital from KWD 5,048,948.850 to KWD 5,553,843.735, i.e., an increase of KWD 504,894.885, through the distribution of 10% bonus shares to shareholders registered in the company's records as of the EGM date.
As part of the resolutions adopted during the EGM, amendments were made to Article  (6) of the Memorandum of Incorporation and Article (5) of the Articles of Association. The revised articles state the following: The company’s authorized capital has been set at KWD 10 million, distributed over 100 million shares, at a nominal value of 100 fils per share, and all shares are paid in cash.
Additionally, the company’s issued and paid-up capital has been set at KWD 5,553,843, distributed over 55,538,437 shares, at a nominal value of 100 fils per share, and all shares are paid in cash, subject to receiving the required authorization from the relevant authorities.