First Education Company held its Extraordinary General Meeting (EGM) on Wednesday, 26 July 2023, and approved the recommendation submitted by the Board of Directors to reduce the company’s authorized, issued, and paid-up capital from KWD 12.75 million to KWD 8.5 million, i.e., down by KWD 4.25 million, equivalent to 33.3% of the company's capital. The reason behind this action is the surplus funds that the company currently does not require. The approved resolution includes the provision that the aforementioned amount will be distributed back to the shareholders pro rata to their stake in the company’s capital.