On September 17, 2024, Hitachi Energy Engineering Technologies Company held an extraordinary general assembly meeting and agreed to cancel the decision of the extraordinary general assembly held on May 13, 2024.
The company approved an increase in its capital from 1,000,000 KD (one million Kuwaiti Dinars) to 5,000,000 KD (five million Kuwaiti Dinars); an increase of 4,000,000 KD (four million Kuwaiti Dinars) by issuing 40,000,000 shares (forty million shares at an offer price of 100 Fils per share without an issuance premium), and this increase will be in cash in one payment dedicated to the shareholders registered in the company's records until the date of the general assembly.
The board of directors was authorized to set the terms, controls, and rules for calling the capital increase and dealing with fractional shares if any, as deemed appropriate.
It was also approved to amend Article (4) of the Articles of incorporation and Article (4) of the Articles of association to state that the authorized and issued capital is set at 5,000,000 KD (five million Kuwaiti Dinars) divided into 50,000,000 shares (fifty million ordinary shares) each valued at 100 Fils, with all shares being cash.
The company's paid-up capital is set at 1,000,000 KD (one million Kuwaiti Dinars) divided into 10,000,000 shares (ten million shares), with all shares being cash.