Date: 17/08/2016 

On Wednesday 17/08/2016 the SDC completed the process of decreasing the share capital of (8,294,754) shares of the Elzay Ready Wear Manufacturing Company.

The share capital decrease is performed to redeem all of the company’s accumulated losses (6,492,339) JOD as of 31/12/2015 and the issuance discount (1,802,415) JOD with a total amount of (8,294,754) JOD.

Thereby, the SDC record of the Elzay Ready Wear Manufacturing Company indicates the decrease of its capital from (15,000,000) shares to a registered capital of (6,705,246) shares as a result of the mentioned share capital decrease.

The above mentioned procedure is conducted based upon the company's General Assembly's resolution made in its extraordinary meeting held on 28/04/2016 which was granted the approval of the Ministry of Industry, Trade, and Supply on 20/07/2016.