Regulatory Alerts2020-01-01
Financial Regulatory Authority Board of Directors Resolution No. (128) for the Year 2020, dated 16/8/2020, Amending Resolution No. (11) for the Year 2014 Regarding the Rules for Listing and Delisting Securities at the Egyptian Exchange
The Financial Regulatory Authority (FRA) issued Resolution No. 128 of 2020 to amend specific provisions of its 2014 Listing and Delisting Rules for the Egyptian Exchange. The resolution updates Article 38 to mandate insider trading notification procedures, clarifies Articles 53 and 53 bis regarding breach rectification timelines and listing committee delisting procedures, and revises Article 55 to define shareholder objection rights, fair value calculations, and mandatory purchase obligations upon delisting. Furthermore, it introduces four new clauses to Article 53 establishing fair value studies, reasoned delisting decisions, and enhanced electronic disclosure requirements.
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