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The Stock Exchange Registration Committee approves listing the shares of Iron and Steel Mines Company


The Securities Registration Committee of the Egyptian Stock Exchange decided, in its session held yesterday, Tuesday, to approve the registration of the shares of the Iron and Steel Company for Mines and Quarries - a divided company arising from the division of the Egyptian Iron and Steel Company into two divided and divided companies, with issued and fully paid capital of 195.4 million pounds distributed over 976.9 One million shares with a nominal value of 0.20 pounds per share in the Egyptian securities listing table (shares).

 

This comes in accordance with Article No. (6) and Article No. (24) of the rules for registration and delisting of securities issued by the Board of Directors of the Financial Supervision Authority Decision No. (11) on 1/22/2014 and Article (35) of its implementation procedures according to the last amendment in In light of the availability of the general conditions for registration, the minimum number of shareholders, the percentage of free-to-trade shares, as a result of the restructuring by dividing it horizontally, as well as the availability of the conditions for the minimum capital and the total number of shares.

 

The committee agreed that the shares of Iron and Steel Mines and Quarries Company will be listed on the stock exchange database starting from the end of the trading session on Thursday, May 27th, after completing the period of publishing the registration request amounting to 5 working days in accordance with the provisions of Article No. (20) of the rules for listing and delisting securities. And that the company is committed to publishing the disclosure report for the split company prepared in implementation of Article 138 of the executive regulations of Law 159 of 1981 approved by the Financial Supervisory Authority, and to notify the Market Operations Department of the Stock Exchange of the committee’s decision to present the matter to the competent committee to determine the opening price and the market in which the shares of the company will trade. In light of the trading rules, procedures and controls in force at the Egyptian Stock Exchange.

 

The committee also decided to restrict the exported capital of the Egyptian Iron and Steel Company (the divisive company) as a result of the division into two companies, namely the Egyptian Iron and Steel Company (the Sharing Company) and the Iron and Steel Company for Mines and Quarries (the divided company) from 1.9 billion pounds to 1.8 billion pounds by reducing The nominal value of one share from 2 pounds to 1.8 pounds per share, distributed over 976.9 million shares, with a nominal value of 1.8 pounds per share, in the Egyptian securities listing table "shares", according to the rules for listing and delisting securities on the Egyptian Stock Exchange.

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