In its upcoming Extraordinary General Meeting, scheduled for Wednesday, 26 July 2023, First Education Company will discuss the Board of Directors’ recommendation to reduce the company’s authorized, issued, and paid-up capital from KWD 12.75 million to KWD 8.5 million, i.e., to KWD 4.25 million or by 33.3% of the existing capital. This reduction is driven by a surplus beyond operational needs. The surplus amount will be disbursed among shareholders in proportion to their respective ownership percentages. Consequently, the proposed amendments to Article  (6) of the Memorandum of Incorporation and Article (5) of the Articles of Association regarding the company's capital structure will be discussed. Once these amendments are ratified, the revised statements will reflect the following: The company’s authorized, issued, and paid-up capital was set at KWD 8.5 million, distributed over 85 million shares, at a nominal value of 100 fils per share, and all shares are in cash. The EGM is scheduled for 11:00 a.m. and will be held at the company's headquarters located in Kuwait, Sharq, Al-Shuhada Street at Al-Hamra Tower, 68th floor.