The extraordinary general meeting of Magic Capital Holding Company, held on 10/2/2024, approved reducing its authorized and issued capital from 3 million Kuwaiti dinars to 2.064 million Kuwaiti dinars, by an amount of 935,600 KWD, the value of the share is 100 Fils, due to non-payment of the issued capital for more than five years.

And approved the amendment of Article No. (6) of the Articles of incorporation and Article No. (5) of its Articles of Association regarding the company's capital to become as follows: 

The authorized, issued, and paid-up capital of the company is set at KWD 2,064,400 (two million, sixty-four thousand, four hundred Kuwaiti dinars) distributed over 20,644,000 shares, each share is worth 100 Fils, and all shares are cash and in-kind.

- Cash capital is KWD 1,236,400
- In-kind capital is KWD 828,000