Financial Regulatory Authority

FINANCIAL REGULATORY AUTHORITY

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Chairman of the Authority

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Decision of the Board of Directors of the Financial Regulatory Authority

No. (43) of 2019 dated 19/3/2019 amending Decision of the Board of Directors of the Authority No. (11) of 2014 regarding the rules for listing and delisting securities at the Egyptian Exchange

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Board of Directors of the Financial Regulatory Authority

Having reviewed the Joint Stock Companies, Partnerships Limited by Shares and Limited Liability Companies Law issued by Law No. (159) of 1981 and its executive regulations; and the Capital Market Law issued by Law No. (95) of 1992 and the decisions issued pursuant to it; and the Central Deposit and Registration of Securities Law issued by Law No. 93 of 2000 and its executive regulations; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Presidential Decree No. (191) of 2009 regarding the provisions governing the management and financial affairs of the Egyptian Exchange; and the Authority's Statute issued by Presidential Decree No. (192) of 2009; and Decision of the Board of Directors of the Authority No. (11) of 2014 regarding the rules for listing and delisting securities at the Egyptian Exchange and its amendments; and the approval of the Authority's Board of Directors in its meeting held on 19/3/2019;

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Decided

(Article One)

A new paragraph shall be added to the end of Article No. (55) of the rules for listing and delisting securities at the Egyptian Exchange, the text of which is as follows:

"The Authority may, in cases of conflict of interest, mandate that voting on the decision to voluntarily delist at the company's Extraordinary General Assembly be conducted by the regional shareholders (freely tradable shares) without voting by the shareholders/major shareholders and their related parties. Furthermore, the Authority may, in the event of material events or transactions preceding the company's board decision that could affect the company's value, require that the purchase of shares by objectors to the delisting decision be at the fair value of the company's securities as determined by an independent financial advisor registered with the Authority."

(Article Two)

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.

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Chairman of the Board of Directors of the Authority

Dr. Mohamed Omran

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Smart Village, Building No. B-136, Giza, Egypt Postal Code: 12577 Tel.: +202 35345350 - Fax.: +202 35370036 info@fra.gov.eg

Smart Village, Building No. B-136, Giza, Egypt Postal Code: 12577 Tel.: (00202) 35345350 - Fax.: (00202) 35370036 www.FRA.gov.eg