Financial Regulatory Authority Board of Directors Resolution No. (57) for 2021

FINANCIAL REGULATORY AUTHORITY Head of the Authority

Board of Directors Resolution No. (57) for the Year 2021 dated April 4, 2021 Amending Board of Directors Resolution No. (48) for the Year 2019 Regarding the Regulations and Procedures for Public and Private Offerings

Board of Directors of the Financial Regulatory Authority

Having reviewed the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulations; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Board of Directors Resolution No. (48) of 2019 regarding the regulations and procedures for public and private offerings; and after the approval of the Authority's Board of Directors in its meeting held on April 4, 2021.

Resolved:

(Article One) A new clause numbered (1 bis) is added to Part "Ninth: Regulations and Procedures for Private Offerings" stipulated in the aforementioned Board of Directors Resolution No. (48) of 2019, with the following text:

Clause (1 bis): If the offering is for bonds, a tranche representing no less than (10%) of the total offered bonds must be allocated to natural or legal persons -other than subscribers in the first tranche- and these persons, when subscribing to the mentioned proportion, are not bound by the minimum subscription limit as stipulated in Clause "1".

(Article Two) This Resolution shall be published in the Egyptian Gazette and on the websites of the Authority and the Egyptian Exchange, and shall take effect from the day following its publication in the Egyptian Gazette.

Chairman of the Board of Directors of the Authority Dr. Mohamed Omran

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