Regulatory Alerts2011-01-01
Decision of the Board of Directors of the Egyptian Financial Regulatory Authority No. (60) of 2011
The Egyptian Financial Regulatory Authority issued Decision No. 60 of 2011 to amend the Egyptian Exchange's listing rules regarding disclosure obligations, free float thresholds, and treasury share acquisitions. The decision mandates that listed companies immediately notify the Exchange of any disclosure amendments, enforces a minimum of 100 shareholders and 5% free float, and restricts treasury share purchases to a maximum of 10% of total shares held for up to one calendar year. It further requires the submission of a standardized disclosure report template detailing company fundamentals, shareholding structure, and offering execution plans, with the decision taking effect the day after its publication in the Egyptian Gazette.
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