The Extraordinary General Assembly of Action Energy Company held on October 5, 2025, approved an increase in the company’s authorized capital from KWD 55 million to KWD 100 million.

The Assembly also authorized the Board of Directors to call for an increase in the issued and paid-up capital, register the capital increase in the commercial register, and determine the terms and conditions of payment, whether in installments or as a lump sum within the authorized capital limit.

The Assembly further approved all Board resolutions related to this matter, provided that the necessary legal procedures are fulfilled. It also granted the Board authority to dispose of fractional shares resulting from the increase in the manner it deems appropriate, and to determine (or delegate someone to determine) the subscription periods and allocation dates related to the capital increase.

Existing shareholders will have priority rights to subscribe to the cash increase in proportion to their shareholding, for a period not less than 15 days from the opening date of the subscription. The Board may extend the priority period or allocate unsubscribed shares to current or new shareholders, in accordance with applicable laws and regulatory approvals.

The Assembly also approved increasing the issued and paid-up capital from KWD 20 million to KWD 37.5 million by issuing 175 million new shares (equivalent to KWD 17.5 million) at a nominal value of 100 Fils per share.

In addition, the Assembly approved amending Article (5) of the company’s Memorandum and Articles of Association to read as follows:

“The authorized capital of the company is KWD 100,000,000 (One Hundred Million Kuwaiti Dinars), divided into 1,000,000,000 shares, each with a nominal value of 100 Fils, all being cash and in-kind shares.

The issued and paid-up capital is KWD 37,500,000 (Thirty-Seven Million Five Hundred Thousand Kuwaiti Dinars), divided into 375,000,000 shares, each with a nominal value of 100 Fils, all being cash and in-kind shares.

•    Cash capital: KWD 27,500,000
•    In-kind capital: KWD 10,000,000.”