AlNawadi Holding Co (K.S.C) has invited its shareholders to attend an Extraordinary General Meeting (EGM) on Sunday, June 22, 2025, at 11:00 AM at the company’s headquarters to discuss a proposed capital increase.
The proposed increase involves raising the company’s authorized, issued, and paid-up capital from KD 26,804,235.100 to KD 30,000,000—an increase of KD 3,195,764.900. This increase will be distributed over 31,957,649 new shares, each with a nominal value of 100 fils and an issuance premium of 20 fils per share. The capital increase is to be paid in cash and in installments, allocated to current shareholders registered on the date of the General Assembly in proportion to their ownership. Existing shareholders will have the right to waive their pre-emptive rights after the legal period of 15 days in favor of other existing shareholders. Unsubscribed shares may be reoffered to new investors.
The Board of Directors will be authorized to determine the terms, conditions, and payment schedules of the capital increase, as well as manage any fractional shares that may arise.
Accordingly, the meeting will also include discussion and approval of the amendments to Article (6) of the Memorandum of Association and Article (5) of the Articles of Association, to reflect the new capital structure as follows:
- Authorized and issued capital: KD 30,000,000, divided into 300,000,000 shares at 100 fils each (all cash shares).
- Paid-up capital: KD 26,804,235.100, divided into 268,042,351 shares at 100 fils each (all cash shares).
- Unpaid capital: KD 3,195,764.900, representing 31,957,649 shares at 100 fils each.
This capital restructuring is aimed at strengthening the company's financial base and supporting its future growth initiatives.