The Extraordinary General Assembly (postponed) of OTC 140 AAN Digital Services Holding Company, held on September 11, 2025, approved the reduction of the company's authorized, issued, and paid-up capital from KD 16,254,461 to KD 2,427,630.
The reduction aims to fully offset the accumulated losses totaling KD 13,826,831, by cancelling 138,268,310 shares at a nominal value of 100 Fils per share, in accordance with the financial statements for the fiscal year ending December 31, 2024.
The assembly also discussed authorizing the Board of Directors to handle fractional shares.
Furthermore, it approved amendments to Article 6 of the Memorandum of Association and Article 5 of the Articles of Association to read as follows:
"The company's authorized, issued, and paid-up capital is set at KD 2,427,630 (Two million, four hundred twenty-seven thousand, six hundred thirty Kuwaiti Dinars), equivalent to 24,276,300 shares (Twenty-four million, two hundred seventy-six thousand, three hundred shares), all of which are in cash."
This is subject to the approval of the competent authorities.