Regulatory Alerts2003-01-01
COSOB Regulation No. 03-03 of March 18, 2003 on the Declaration of Crossing Participation Thresholds in the Capital of Listed Companies
The Algerian Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued Regulation No. 03-03 to establish the content and procedures for declaring the crossing of participation thresholds in the capital of listed companies. The regulation mandates written declarations detailing the identity of the shareholder, the specific thresholds crossed, and the nature of the transactions, while requiring an additional statement of intent when thresholds exceed one-tenth or one-fifth of the capital. These declarations must be published in the official stock exchange bulletin and at least two national newspapers to ensure transparency for the market.
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