Regulatory Alerts2007-01-01
Investment Minister Decision No. (12) of 2007 Amending Certain Provisions of the Executive Regulations of the Capital Market Law No. 95 of 1992
The Egyptian Ministry of Investment issued Decision No. 12 of 2007 to amend the Executive Regulations of the Capital Market Law No. 95 of 1992 by introducing a new Chapter Twelve governing tender offers for takeover purposes. The amendment replaces existing capital increase provisions with strict fair-value reporting requirements and independent financial advisor mandates, while repealing outdated articles 59 through 62. It establishes comprehensive definitions, transparency principles, and operational rules for mandatory and voluntary tender offers, including share swaps, swap ratios, and material adverse event clauses to protect shareholders and ensure market integrity.
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