The extraordinary general assembly held on 26 June 2015 approved the amendment of the parent company’s objectives to become as follows:
Management of the parent company’s subsidiaries or participation in management of other companies in which it holds ownership stakes and providing the necessary support thereto.
Investing funds by way of trading in shares, bonds and other financial securities.
Acquisition of properties and movables necessary to carry out the business activities as allowable by the law.
Financing and extending loans to investee companies and providing guarantees for third parties, provided that the share of the holding company in the investee company is not less than 20%.
Acquisition of industrial rights and related intellectual properties or any other industrial trade marks or royalties and any other property related thereto, and renting such properties to the subsidiary companies and others whether inside Kuwait or abroad.
The parent company has the right to carry out its activities inside Kuwait or abroad whether directly or through power of attorney.
The parent company is authorized to have interest in or participate with any party or institution carrying out similar activities or those parties who will assist the company in achieving its objectives whether in Kuwait or abroad. The parent company has the right to establish, participate in or acquire such institutions.