Chairman of the Board of Directors

Decision of the Board of Directors of the Authority No. (79) of 2016 dated 21/6/2016

Amending Decision of the Board of Directors of the Authority No. (3) of 2010

Regarding the Operational Controls of the Deposit Bank Concerning the Issuance and Cancellation of Egyptian Deposit Certificates

Board of Directors of the Egyptian Financial Supervisory Authority

Having reviewed the Capital Market Law issued by Law No. (95) of 1992 and the decisions issued in implementation thereof; and the Central Depository and Registration of Securities Law issued by Law No. (93) of 2000 and its executive regulations; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Presidential Decree No. (191) of 2009 regarding the provisions governing the management and financial affairs of the Egyptian Exchange; and the Statute of the Egyptian Financial Supervisory Authority issued by Presidential Decree No. (192) of 2009; and Decision of the Board of Directors of the Authority No. (3) of 2010 regarding the operational controls of the deposit bank concerning the issuance and cancellation of Egyptian deposit certificates; and Decision of the Board of Directors of the Authority No. (11) of 2014 regarding the rules for listing and trading securities on the Egyptian Exchange and its amendments; and the approval of the Authority's Board of Directors in its session held on 21/6/2016;

Decided:

(Article One)

A new article numbered (13 bis) is added to the aforementioned Decision of the Board of Directors of the Authority No. (3) of 2010, with the following text:

(Article 13 bis):

In the event that an Egyptian investor (natural or legal) holding Egyptian deposit certificates wishes to convert them into shares, the shares shall be registered in the deposit bank account as the registered owner, and the sale of these shares on any foreign exchange shall be conducted by the owner through the accounts of the Central Depository and Registration Company with any of the international custodians.

The Central Depository and Registration Company shall deliver the proceeds from the sale of the shares or any monetary entitlements to the investor through one of the banks subject to the supervision and oversight of the Central Bank of Egypt.

The controls mentioned in the preceding two paragraphs must be observed in the event of the delisting of Egyptian deposit certificates from the Egyptian Exchange.

(Article Two)

This Decision shall be published in the Egyptian Gazette and shall take effect from the date of its publication. The Egyptian Exchange, the Central Depository and Registration Company, deposit banks, and the administrations of the competent authorities shall implement it according to their respective competencies.

Chairman of the Authority Sherif Samy

---

Egyptian Financial Supervisory Authority

Egyptian Financial Supervisory Authority

---

Smart Village, Building 136, P.O. Box Giza Postal Code: 12577 Tel: 25370040 - Fax: 25370041

1 Al-Masterly Tower - Al-Shajar Al-Azam St. - Giza Postal Code: 12517 Tel: 25737142 - Fax: 25737119

28 Talaat Harb St. - Cairo Postal Code: 25450 Tel: 25758807 - Fax: 25758581

20 Imad El-Din St. - Cairo Postal Code: 11111 Tel: 25793340 - Fax: 25745588