Hilal Cement Company held its extraordinary general assembly on Tuesday, September 24, 2024, and approved the Board of Directors' recommendation to reduce the company's issued and fully paid-up capital from 3 million Kuwaiti dinars to 1.2 million dinars, divided into 12 million ordinary shares, with a nominal value of 100 fills. 

The reduction rate is 60% of the issued and fully paid-up capital, amounting to 1.8 million dinars (only one million and eight hundred thousand Kuwaiti dinars) divided into 18 million shares of the company's shares, with a nominal value of 100 fills per share. 

The reduction is made at a rate of (60 shares for every 100 shares) due to its excess over the need, and authorizing the Board of Directors to determine the due date for this reduction after completing the registration procedures, and to determine the date of distribution to shareholders registered in the company's records on the due date, each according to his ownership of the capital shares, and to dispose of In the fractions of shares resulting from the reduction (if any), and to authorize whomever he deems appropriate to implement this after fulfilling the requirements and issuing the required approvals in accordance with the provisions of the law, regulations and decisions of the regulatory authorities.

And it agreed to amend Article (6) of the Articles of incorporation and Article (5) of Chapter One (B) of its Articles of Association, which are related to the company's capital, after the approval of the competent regulatory authorities, as follows:

-    The company's authorized capital was set at KWD 5,000,000 (five million Kuwaiti dinars only), divided into 50,000,000 shares (fifty million shares only), each share is worth 100 fills, all of which are cash shares, and the company's issued and fully paid capital was set at KWD 1,200,000, distributed over 12,000,000 shares, each worth 100 Kuwaiti fills, all of which are cash shares.