Asia Holding Company will discuss, during its upcoming Ordinary and Extraordinary General Assemblies, scheduled to be held on Wednesday, September 10, 2025, the financial year ending December 31, 2024, including the Board of Directors' recommendation not to distribute dividends for the fiscal year 2024, as well as not to grant remuneration to board members.

During the Extraordinary General Assembly, the company will also discuss a proposal to reduce the authorized, issued, and paid-up capital from KWD 15,744,248 (Fifteen million, seven hundred forty-four thousand, two hundred forty-eight Kuwaiti Dinars) to KWD 2,143,759 (Two million, one hundred forty-three thousand, seven hundred fifty-nine Kuwaiti Dinars), for the purpose of offsetting the accumulated losses of KWD 13,856,241 as of December 31, 2024, according to the following steps:

•    Offset part of the accumulated losses using the voluntary reserve in the amount of KWD 127,122
•    Offset part of the accumulated losses using the statutory reserve in the amount of KWD 128,630
•    Offset the remaining accumulated losses of KWD 13,600,489 through a reduction in the company's capital, bringing the company's capital after the reduction to KWD 2,143,759
 
The assembly will also discuss the amendment of Article (6) of the Memorandum of Incorporation and Article (5) of the Articles of Association:

Text Before Amendment:

"The company’s capital is set at KWD 15,744,248, divided into 157,442,480 shares with a nominal value of 100 Kuwaiti Fils each, and all shares are in cash."

Text After Amendment:

"The authorized, issued, and paid-up capital of the company is set at KWD 2,143,759, divided into 21,437,590 shares with a nominal value of 100 Kuwaiti Fils each, and all shares are in cash."