Decisions of the Extraordinary GA: Capital Increase, Name Change, and Sharia Compliance
The subsidiary company's extraordinary general assembly convened on 07/06/2023, where the following agenda items were unanimously approved: Capital Increase: The company's capital will be raised from 4,300,000 KWD to 6,798,697 KWD through an in-kind capital infusion. Name Change: The company will be rebranded from Fanan Real Estate Company to Eradat International Real Estate Company. Sharia Compliance: It was agreed that the company will operate in accordance with the principles of Islamic Sharia law. Profit Distribution: The ordinary general assembly, subject to the Board of Directors' proposal, may approve the periodic distribution of profits.