Mubasher: The extraordinary general meeting (EGM) of KGL Logistics approved increasing the authorised and paid-up capital to KWD 77.18 million from KWD 73.51 million.
This capital hike will be executed by issuing 36.75 million shares that represent 5% of the issued and paid-up capital or as 5-for-100 shares, according to a bourse disclosure on Sunday.
KGL Logistics noted that this increase will be distributed as bonus shares on 2 July to the shareholders or record date 27 June.
The shareholders also approved modifying part of the company’s articles of association to determine the capital as KWD 77.18 million distributed on 85.771 million shares at a par value of 100 fils each.
