KAC raises its capital by 241 percent through a dividend share deducted from profits
The General Assembly of the Kuwait Aviation Services Company (KASCO) approved the Board of Directors’ proposal to increase the authorized, issued, and paid-up capital from 4.4 million Kuwaiti dinars to 15 million dinars, representing an increase of 10.6 million dinars, or 241 percent of the existing capital.
According to the minutes published in the Official Gazette, the increase will be effected by issuing 106.04 million bonus shares valued at 100 fils per share, deducted from the retained earnings balance as of December 31, 2025, for shareholders registered in the company’s records as of the date of the assembly meeting. The Board of Directors has been authorized to handle any fractional shares, if any.
Under the amendment, the company’s total number of shares will rise from 44 million to 150.04 million, all of which are cash shares. This change involves amending Article 6 of the Memorandum of Association and Article 5 of the Articles of Association.
The assembly also approved aligning the company’s activities with international activity codes, by amending Article 5 of the Memorandum of Association and Article 4 of the Articles of Association. This replaced the previous list of corporate purposes with a new formulation, while retaining the company’s core activities: catering services and aircraft meal provisioning, ground handling services at airports, management of air cargo warehouses, and international air cargo agency services.
Under Item Four, the assembly approved adding new purposes, bringing the total number of the company’s activities to 35. These include acquiring real estate and movable property for the company’s benefit, buying and selling land and real estate on the company’s behalf, managing and leasing residential properties owned or leased by the company, providing worker housing, operating a central laundry, and establishing or participating in joint ventures with others to execute the company’s operations.
