The extraordinary general assembly of Chairmans Club Kuwait, held on December 25, 2024, approved an increase in its authorized capital from KWD 250,000 to one million Kuwaiti Dinars, representing an increase of KWD 750,000.  

The Board of Directors was authorized to call for the increase of the issued and paid capital and to make the necessary entries regarding the capital increase in the commercial register. 

 They were also empowered to determine the conditions and controls in total or in part on one or more installments, within the limits of the authorized capital, by a resolution specifying the amount, methods, type of increase, dates of issuance, and additional conditions. 

The ordinary general assembly granted the Board of Directors the authority to decide on the issuance premium and specify its value to be added to the nominal value of the new shares, as well as to manage fractional shares (if any).  

The Board was also authorized to set the dates for the subscription periods, granting existing shareholders priority in subscribing to the cash increase proportionate to their shares in the company's capital for no less than 15 days from the opening of subscriptions. 

 After that, the Board may extend the exercise of priority rights or allocate any surplus to existing or new shareholders in accordance with the law, and they may appoint or authorize others as deemed necessary, while ensuring compliance with legal requirements and obtaining necessary approvals according to applicable laws and regulations. 

The assembly also approved increasing the issued and paid capital from KWD 250,000 to KWD 502,572, to be paid in cash as a one-time payment, and allocated to current shareholders registered in the company's books as of the date of the extraordinary general assembly, with the Board authorized to handle any fractional shares (if any). 

Furthermore, it was agreed to amend Article 5 of the Articles of Incorporation and Article 6 of the Company’s Bylaws to state that the authorized capital is set at K.W.D 1,000,000 (one million Kuwaiti Dinars), distributed over 10,000,000 shares, with each share valued at 100Ffils, all of which are cash shares. 

The issued capital is set at KWD 502,572 (five hundred and two thousand five hundred and seventy-two Kuwaiti Dinars), distributed over 5,025,720 shares at 100 Fils each, all of which are cash shares. 

The paid-up capital is set at KWD 250,000 (two hundred and fifty thousand Kuwaiti Dinars), distributed over 2,500,000 shares, each valued at 100 Fils, and all are cash shares.