Decision of the Board of Directors of the Capital Market Authority

No. (123) of 2019 dated 2019/9/16
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

Board of Directors of the Capital Market Authority

Having reviewed the Law on Joint Stock Companies, Companies with Limited Liability by Shares, Limited Liability Companies, and Single-Person Companies issued by Law No. (159) of 1981 and its executive regulations; and the Capital Market Law issued by Law No. (95) of 1992 and its executive regulations; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and the Investment Law issued by Law No. (72) of 2017; and Presidential Decree No. (192) of 2009 issuing the Basic Statute of the Capital Market Authority; 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 the approval of the Board of Directors of the Authority in its meeting held on 2019/9/16;

Has Decided

(Article One)

Clause (w) is added to Article (6) of the Rules for Listing and Delisting Securities on the Egyptian Exchange, the text of which is as follows:

Article (6): General Conditions for Listing Securities:

Listing on the Exchange tables requires prior registration with the Authority and fulfillment of the following general conditions:

……………….

(w) That the company's board of directors composition includes at least one female member.

(Article Two)

Companies with securities listed on the Egyptian Exchange shall ensure that their board of directors composition includes at least one female member and shall amend their bylaws accordingly by no later than 2020/12/31, if feasible, or at the first board of directors election of the company.

(Article Three)

This Decision shall be published in the Egyptian Gazette and on the websites of the Authority and the Egyptian Exchange, and shall take effect from the day following its publication in the Egyptian Gazette.

Chairman of the Board of Directors of the Authority Dr. Mohamed Omran

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