Egyptian Financial Supervisory Authority

Egyptian Financial Supervisory Authority

Chairman of the Board of Directors

Decision No. (14) of 2015 of the Board of Directors of the Authority

Dated 30/9/2015

Amending Decision No. (11) of 2014 of the Board of Directors of the Authority
Regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange

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Board of Directors of the Egyptian Financial Supervisory Authority

Having reviewed the Companies Law No. (159) of 1981 for Joint Stock Companies, Commandite Companies by Shares, and Limited Liability Companies, and its Executive Regulations;
and the Capital Market Law No. (95) of 1992 and the decisions issued to implement it;
and the Central Deposit and Registration of Securities Law No. (93) of 2000 and its Executive Regulations;
and Law No. (10) of 2009 regulating supervision over non-Egyptian markets and financial instruments;
and Presidential Decree No. (191) of 2009 regarding the provisions governing the management and financial affairs of the Egyptian Exchange;
and the Statutes of the Egyptian Financial Supervisory Authority issued by Presidential Decree No. (192) of 2009;
and Decision No. (11) of 2014 of the Board of Directors of the Authority regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange and its amendments;
and the approval of the Board of Directors of the Authority in its meeting held on 30/9/2015;

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Decided:

(Article One)

The following text is substituted for Article (38) of the Rules for Listing and Delisting Securities on the Egyptian Exchange:

Article (38) Insiders' Transactions

Without prejudice to the provisions of the Capital Market Law and its Executive Regulations, a company whose securities are listed on the Egyptian Exchange must notify the Exchange of its internal procedures adopted by it, which shall ensure the following:

1. Prohibiting any insider and their affiliated group from trading any securities issued by the company during the five working days prior to and the one working day following the publication of any material information, as defined in item "b" of Article 319 of the Executive Regulations of the Capital Market Law.

2. Prohibiting any shareholder owning 20% or more individually or through their affiliated group from trading, except after notifying the Exchange thereof prior to execution, according to the form prepared for this purpose at the Exchange.

The execution date of insiders' transactions shall not exceed one month at most from the date of submitting the notification form to the Exchange.

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(Article Two)

This Decision shall be published in the Egyptian Gazette and on the websites of the Authority and the Egyptian Exchange, and shall take effect as of 11 October 2015. The Egyptian Exchange and the competent department within the Authority shall implement it, each within its respective purview.

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Chairman of the Board of Directors
Sherif Samy

Office of the Chairman
46076

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20 Ammar El-Din St. - Cairo - Egypt
Telephone: (202) 27737133
Fax: (202) 25741000
P.O. Box: 618 - Postal Code: 11111
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg