The extraordinary General Assembly of the OTC 139 International Resorts Company (postponed) approved the amendment of Article (2) of the Articles of Incorporation and Article (1) of its articles of association to read as follows:

It was established in accordance with the provisions of the Companies Law and this Bylaw among the shareholders specified in its provision’s hereafter as a closed Kuwaiti joint-stock company named the International Resorts Company (K.S.C.C.).

The assembly also agreed to amend Article (14) to state that the management of the company will be handled by a Board of Directors consisting of three members elected by the General Assembly of shareholders through secret ballot.

Each shareholder, whether a natural or legal person, may appoint representatives on the Board of Directors to participate with other shareholders in electing the remaining members of the Board, but only to the extent of their representation percentage on the Board.

The General Assembly, at the request of regulatory authorities, may select one or more independent members with expertise and competence, provided that their number does not exceed half of the Board's members.