Reversal of Private placement in the capital increase by 20%

Further to the decision of the Company’s Board of Directors at its meeting # 145 held on 10/02/2019 about the increase of the issued share capital by 20% through issuing of 60,000,000 shares and without issuance premium, Kuwait Pillars for Financial Investment Company KSC Closed announces that the Board of Directors has met on Sunday 16 June 2019 (meeting # 150) and decided to reverse its decision to increase the issued and paid up capital of the Company (from KD 30,000,000 to KD 36,000,000) due to non-coverage of the offering amount in the announced time frame.