Sanam Real Estate Company Capital Restructure

On Monday, July 17, 2023, the postponed Extraordinary General Assembly of Sanam Real Estate Company convened at the company's headquarters and approved the following:

First: To reduce the company's authorized, issued, and paid-up capital from KD 12,218,500 to KD 7,835,095, amounting to a reduction of KD 4,383,405, by canceling 43,834,050 shares, including the cancellation of the treasury shares balance of 872,600 shares at nominal value. The reduction also involved settling the treasury dividend reserve and offsetting the issuance premium with the accumulated losses.

Secondly: Approval to increase the authorized, issued, and paid-up capital from KD 7,835,095 to KD 10,000,000 in cash by issuing 21,649,050 shares with a nominal value of 100 fils per share and without an issuance premium, amounting to KD 2,164,905, representing a 27.63% increase of the company's capital after the reduction.