Regulatory Alerts2009-01-01
Decision No. 035 of 2009
The Financial Regulatory Authority issued Decision No. 035 of 2009 to reject the request to suspend the resolutions of the Ordinary and Extraordinary General Assemblies held on April 16, 2009, for the Egyptian Company for Telecommunications Equipment Manufacturing. The Authority determined that the requesters failed to substantiate that the resolutions caused them harm or provided benefits to the Board of Directors or a specific class of shareholders. This ruling confirms the validity of the General Assembly decisions based on the lack of proven damage or unjust enrichment.
Decision No. 035 of 2009
Regarding the rejection of the request submitted to suspend the resolutions of the Ordinary General Assembly and the Extraordinary General Assembly dated 16/4/2009 of the Egyptian Company for Telecommunications Equipment Manufacturing, due to the failure to verify the occurrence of harm to the requesters or the realization of benefit for the Board of Directors or a category of shareholders.
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