The Kuwait Application Services Provider Company approved, during its Extraordinary General Assembly held on June 25, 2025, an increase in its authorized capital from KD 150,000 to KD 1,000,000.

The Board of Directors was authorized to increase the issued and fully paid-up capital within the limits of the authorized capital. 

The board may also determine the amount, method, and timing of the capital increase, handle any fractional shares resulting from the increase, and apply a share premium where applicable—particularly in cases not involving bonus share issuances. 

The board is also empowered to engage third parties to implement any of the stated measures, subject to fulfilling regulatory requirements and obtaining approvals by applicable laws and regulations.

Following this, the General Assembly approved amending Article (5) of the Articles of incorporation and Article (4) of the Articles of Association related to the company’s capital, as follows:

•    The authorized capital of the company is KD 1,000,000 (One Million Kuwaiti Dinars), divided into 10,000,000 shares with a nominal value of 100 Fils per share.
•    The capital currently stands at KD 150,000 (One Hundred Fifty Thousand Kuwaiti Dinars), with an additional KD 850,000 to be paid in cash.
•    The issued and paid-up capital is set at KD 150,000, divided into 1,500,000 shares, each valued at 100 Fils. All shares issued and paid are in-kind.