Synergy Energy Services held its Extraordinary General Meeting (EGM) on Monday, 19 June 2023 at the company's headquarters, and approved to reduce its capital from KWD 9.4 million to KWD 1 million, due to surplus by canceling 84.550 million shares at a nominal value of 100 fils per share, for a total value of KWD 8.455 million.
The EGM also approved to amend Article (5) of the Articles of Association and Article (6) of the Memorandum of Incorporation, as follows: The company’s authorized, issued, and paid-up capital was set at KWD 1 million, distributed over 10 million shares, at a nominal value of 100 fils per share, and all shares are in cash, subject to receiving regulatory approvals.