2020-01-01
The Financial Regulatory Authority of Egypt issued Decision No. (177) of 2020 to amend the publication rules for companies that issued securities in a public offering but are not listed on the Egyptian Exchange. The amendment adds a third paragraph to Article One of the 2018 Decision, permitting these unlisted companies to fulfill their annual and periodic financial statement disclosure obligations by mailing registered copies with acknowledgment of receipt directly to shareholders. The Decision takes effect the day after its publication in the Egyptian Gazette and on the official websites of both the Authority and the Egyptian Exchange.
FINANCIAL REGULATORY AUTHORITY
Amending Decision of the Authority's Board of Directors No. (55) for the Year 2018 regarding Publication Rules and Means
for Companies that Issued Securities in a Public Offering or Listed Securities on the Egyptian Exchange
The Board of Directors of the Financial Regulatory Authority
Having reviewed the Capital Market Law issued by 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 Decision of the Authority's Board of Directors No. (55) of 2018 regarding publication rules and means for companies that issued securities in a public offering or listed securities on the Egyptian Exchange;
And after approval by the Authority's Board of Directors in its session held on 18/11/2020;
(Article One)
A third paragraph is added to the principle (Thirdly: Publication of Annual and Periodic Financial Statements) contained in Article One of Decision of the Authority's Board of Directors No. (55) of 2018 regarding publication rules and means for companies that issued securities in a public offering or listed securities on the Egyptian Exchange, with the following text:
Article One - Thirdly: Publication of Annual and Periodic Financial Statements – Third Paragraph:
Companies that have issued their securities in a public offering and are not listed on the Egyptian Exchange may suffice by sending their annual and periodic financial statements and related notes to shareholders via mail.
Sent via registered mail with acknowledgment of receipt.
(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 day following its publication in the Egyptian Gazette.
Chairman of the Board of Directors of the Authority
Dr. Mohamed Omran
Financial Regulatory Authority
Financial Regulatory Authority
Smart Village, Building 137, Giza, Egypt
Postal Code: 110
Telephone: +20275325050
Fax: +20275370036
WWW.FRA.GOV.EG
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