Hilal Cement Company will discuss in its upcoming extraordinary general meeting, which  scheduled to be held on Tuesday, September 24, 2024, the recommendation of its Board of Directors to reduce its issued and fully paid capital from 3 million Kuwaiti Dinars to 1,200,000 Kuwaiti Dinars , divided into 12 million ordinary shares with a nominal value of 100 Kuwaiti fills per share, and the reduction rate is 60% of the issued and fully paid capital amounting to 1,800,000 Kuwaiti Dinars , divided into 18 million shares of the company's shares with a nominal value of 100 fills per share.

And the reduction is made at the rate of (60 shares for each 100 shares) in order to increase it beyond the need, provided that this amount is distributed to the shareholders registered in the company’s records on the due date specified according to the due schedule, each according to his ownership of the capital shares, and authorizing the Board of Directors to amend the due schedule of shares and dispose of the fractional shares resulting from the reduction, if any.

Also, the meeting will discuss the amendment of Article No. (6) of the Articles of Association and Article No. (5) of Chapter One (B) of the Company’s Articles of Association, which relates to the company’s capital, will be discussed after the approval of the competent regulatory authorities, so that its statement after the amendment becomes as follows: 

The authorized capital of the company has been set at 5,000,000 Kuwaiti dinars, divided into 50,000,000 shares, the value of each share is one hundred Kuwaiti fills, and all of them are cash shares. The issued and fully paid-up capital of the company has been set at 1,200,000 Kuwaiti dinars, distributed over 12,000,000 shares, the value of each share is one hundred Kuwaiti fills, and all of them are cash shares.