In a communication to Boursa Kuwait today, Al-Safat Investment Company declared that it has successfully concluded the formalities related to its merger with Cap Corp Investment Company as approved by its Extraordinary General Meeting (EGM), where Al-Safat is the merging company, and Cap Corp is the merged company.
Al-Safat stated that the merger's approval has been duly recorded in the commercial registry. Subsequently, the initiation of procedures for the transfer of Cap Corp Investment Company's financial obligations, along with all its assets and liabilities, to Al-Safat Investment Company is set to commence.
This development follows the receipt of approval from the Capital Markets Authority to proceed with the execution of the merger protocols as outlined in Appendix No. (1) of Module Nine (Mergers and Acquisitions). This appendix pertains to the guidelines governing the execution of merger operations.

It is worth noting that the Extraordinary General Meeting (EGM) of "Al-Safat" approved in May 8 items on the meeting agenda, including the draft merger agreement with Cap Corp Investment Company, and all its annexes, including the recommendation of the independent investment advisor, the asset valuation report and the swap rate, after obtaining the approvals of the relevant regulatory authorities.