AlNawadi Holding Company held its Extraordinary General Assembly on Sunday, June 22, 2025, during which shareholders representing 88.19% of the company’s total shares approved an increase in the company’s authorized, issued, and paid-up capital from KWD 26,804,235.100 to KWD 30,000,000, an increase of KWD 3,195,764.900.
This increase will be distributed over 31,957,649 shares with a nominal value of 100 Fils per share, in addition to an issuance premium of 20 Fils per share.
The increase will be paid in cash and allocated to existing shareholders registered in the company’s records as of the date of the general assembly, in proportion to their shareholding.
The subscription period is set for 15 days from the opening date, during which current shareholders may waive their preemptive rights (partially or fully) in favor of another shareholder through a written letter submitted to the board of directors.
If shareholders do not subscribe to the full offering within the legal timeframe, the remaining unsubscribed shares will first be offered to existing shareholders according to their ownership percentage of the remaining shares and subsequently opened to non-shareholders.
The Board of Directors is authorized to set the terms, conditions, and procedures for collecting capital increase payments, scheduling payment dates, handling share fractions, and taking all necessary actions to execute the decision, including opening the subscription period, modifying the Memorandum of Association and Articles of Association, and coordinating with the Ministry of Commerce & Industry and the Capital Markets Authority if required.
Accordingly, Article (6) of the Articles of incorporation and Article (4) of the Articles of Association related to the company’s capital were amended to state:
- The company’s authorized and issued capital is set at KWD 30,000,000 (thirty million Kuwaiti Dinars), divided into 300,000,000 shares of 100 Fils each, all of which are cash shares.
- The company’s paid-up capital is set at KWD 26,804,235.100, divided into 268,042,351 shares, each with a value of 100 Fils, and all are cash shares.