Decision of the Board of Directors of the Financial Regulatory Authority

No. (27) of 2020 dated 29/2/2020

Amending Decision of the Board of Directors No. (11) of 2014 Regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange

Board of Directors of the Financial Regulatory Authority

Having reviewed the Capital Market Law No. (95) of 1992 and its Executive Regulations; Having reviewed Law No. (10) of 2009 Regulating Supervision over Markets and Non-Banking Financial Instruments; Having reviewed Presidential Decree No. (191) of 2009 on the Rules Governing the Management and Financial Affairs of the Egyptian Exchange; Having reviewed Presidential Decree No. (192) of 2009 Issuing the Statute of the Financial Regulatory Authority; Having reviewed Decision of the Board of Directors No. (11) of 2014 Regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange; Having reviewed the Approval of the Board of Directors dated 29/2/2020;

Decided

(Article One)

The preamble of the first paragraph of Article (51) of the Rules for Listing and Delisting Securities on the Egyptian Exchange issued by Decision of the Board of Directors No. (11) of 2014 is replaced with the following text:

Article (51): Trading in Treasury Shares

The company wishing to purchase a portion of its own shares (treasury shares) must notify the Exchange of its intention in accordance with the form prepared by the Exchange and approved by the Authority at least three working days prior to the scheduled execution date, unless the Authority permits execution without adhering to this period in cases it deems appropriate. The notification must specifically include the company's rationale for trading its shares, the type of trading, the quantity of shares to be traded, the specified price, the execution period, the executing brokerage firm, the funding source for the purchase, and the expected impact of the trading on the company's performance indicators. A copy of the relevant board of directors meeting minutes must be attached, and the following shall be observed:

(Article Two)

This Decision shall be published in the Egyptian Gazette and on the websites of both the Authority and the Egyptian Exchange, and shall take effect from the date of its issuance.

Chairman of the Board of Directors
Dr. Mohamed Omran

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