The upcoming extraordinary general Meeting of Orient Education Services Company, set to take place on Tuesday, July 16, 2024, will address the proposal to decrease its authorized, issued, and paid-up capital from KD 10 million to KD 2.9 million. This reduction of KD 7.016 million aims to offset the total accumulated losses of KD 7.036 million. This decision follows the utilization of the entire mandatory reserve amounting to KD 20,570 as of December 31, 2023. 

The company's assembly will discuss the proposal to raise the authorized capital from KD 2.9 million to KD 6 million, representing an increase of KD 3.016 million, with a nominal value of 100 fills per share, subject to the decision of the Board of Directors. 

Furthermore, the assembly will also address increasing the issued and paid-up capital from KD 2.9 million to KD 5 million, an increase of KD 2.016 million. This cash increase, paid in a single installment, will amount to the value of each share (100 fills) and will be allocated to shareholders listed in the company’s records up to the meeting date. 

 Discussing the amendment of Article (6) of the Memorandum of Association and Article (5) of its Articles of Association to become as follows the amendment: 

The company has an authorized capital of KD 6 million, divided into 60 million shares, each valued at 100 fills. The issued capital stands at KD 5 million, with the paid-up capital amounting to KD 2,983,976, distributed among 29,839,760 shares, with each share priced at 100 Kuwaiti fills, and all shares are fully paid in cash.