Regulatory Alerts2019-01-01
Decision of the Authority's Board of Directors No. (158) of 2019
The Financial Regulatory Authority (FRA) issued Decision No. 158 of 2019 to partially suspend the Ordinary General Assembly resolutions of Suez Canal for Technology Connection Company, specifically halting the appointment of its board of directors for a new three-year term. Rejecting the remaining suspension requests from a 5% shareholder, the FRA grounded its ruling in Article 10 of the Capital Market Law No. 95 of 1992. The decision becomes effective the day following its issuance and directs all competent authorities to implement the partial suspension accordingly.
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