Bourse fined 3 companies 40 thousand pounds for violating the rules of registration and executive procedures
The Listing Committee of the Egyptian Stock Exchange decided to fined 3 companies for the amount of 40,000 pounds for violating the registration rules, distributed among the fines of Zahraa Maadi Investment and Construction Company, EGP 10 thousand, in violation of the provisions of Article 38 of the rules of registration and cancellation of securities and Article 66 of the executive procedures, In violation of the provisions of Article 46 of the Rules of Registration and Deletion of Securities and Article 64 of the executive procedures.
The Listing Committee of the Egyptian Stock Exchange has fined the Arab Real Estate Investment Company [ALICO] a sum of LE 20,000, in order to repeat the violation of the provisions of Article 32 of the rules of registration and cancellation of securities and Article 44 of the executive procedures.
The Committee also decided to alert Ramco companies to establish tourist villages, Oriental Weavers Carpet, Modern Insulation Materials – Modern Bitumod, Pioneers Holding Financial Investments, Orascom Development Egypt, taking into account the provisions of Article 31 of the Listing and Deletion Regulations of the Egyptian Stock Exchange and Article 45 of the future executive procedures. .
Article 31 of the Listing Rules of the Stock Exchange stipulates that the company bound by the securities of the Egyptian Stock Exchange shall submit to the Authority and the Stock Exchange the resolutions of the Ordinary General Assembly and the Extraordinary General Assembly upon its expiry and at the latest before the commencement of the first trading session following the end of the meeting. The Company shall also submit to the Stock Exchange within one The General Assembly shall convene the minutes, provided that it is approved by the Chairman of the Board of Directors.
The Company shall be obliged to provide the Stock Exchange with the minutes of the General Assembly meetings approved by the competent administrative authority within a period of not more than 3 working days from the date of its receipt. The Stock Exchange shall be obliged to publish the above mentioned resolutions and minutes as soon as they appear on the trading screens and on the website of the Stock Exchange.
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