Regulatory Alerts2009-01-01
Decision No. 036 of 2009
The Financial Regulatory Authority issued Decision No. 036 of 2009 to reject a request by Orascom Telecom Holding to stop Decision No. 7 of the Ordinary General Assembly of Mobinil. The rejected request sought to halt the Assembly's resolution not to distribute profits for the financial period ending March 31, 2009. The Authority determined that the legal grounds for stopping the decision under Article 10 of Law No. 95 of 1992 were not met.
Decision No. 036 of 2009
Regarding the rejection of the request submitted by Orascom Telecom Holding (S.A.E), as one of the shareholders of Mobinil Telecom (S.A.E) holding 28% of the company's capital, to stop Decision No. 7 of the Ordinary General Assembly of Mobinil Telecom held on 27/4/2009, which decided not to distribute profits for the financial period ending on 31/3/2009, due to the absence of grounds for stopping it according to Article 10 of Law No. 95 of 1992.