Regulatory Alerts2012-01-01
Decision No. 2012/8 of the Capital Market Authority Board of Directors
The Capital Market Authority amends Decision No. 54 of 2009 to authorize the Egyptian Exchange Chairman to permit continued trading via an order mechanism when a company modifies registered issuance data. This approval is strictly conditional upon the company submitting acceptable justifications and its management formally committing to reinstate the securities in the Exchange's official tables within an approved timeframe. The regulatory addition creates a procedural exception that maintains trading continuity while mandating timely correction of registration discrepancies.
Decision No. 2012/8
An additional paragraph is appended to the end of Item One of Decision No. (54) of 2009 of the Authority's Board of Directors, as follows:
"The Chairman of the Board of Directors of the Egyptian Exchange may, in the event that a company modifies registered data or issuance elements, approve the continuation of trading in the company's securities according to the order mechanism, based on the justifications submitted by the company and accepted by the Egyptian Exchange, and with the company's management undertaking to take the necessary measures to reinstate its securities in the Egyptian Exchange's tables within the period accepted by the Exchange."