Al-Seraj Group Holding Company will hold its extraordinary general assembly for the fiscal year ending on August 31, 2024, on Sunday, October 20, 2024, to discuss reducing its authorized and issued capital from KWD 6,000,000 to KWD 4,119,871 by KWD 1,880,129, which is unpaid capital.

Then, it will discuss increasing its authorized, issued and paid-up capital from 4,119,871 Kuwaiti Dinars to 6,000,000 Kuwaiti Dinars  by 1,880,129 KWD with a nominal value of 100 fills per share, a cash increase to be paid in one payment and allocated to the current shareholders registered in the company’s records on the date of the General Assembly meeting, and authorizing the Board of Directors to set the controls and conditions for calling up the capital. 

Accordingly, the amendment to Article No. (6) of its articles of incorporation and Article No. (5) of its Articles of Association will be discussed, so that their statement after the amendment will be as follows:

The authorized and issued capital of the company has been set at 6,000,000 Kuwaiti dinars distributed over 60,000,000 shares, the value of each share is 100 fills, and all shares are in cash. Its paid-up capital has been set at 4,119,871 Kuwaiti dinars, and all shares are in cash. 

In addition, the amendment to the text of Article No. (14) of its Articles of Association will be discussed, so that its text after amendment becomes as follows: - “The company shall be managed by a Board of Directors consisting of (7) member elected by the General Assembly by secret ballot.