Dr. Mohammed Omran – FRA’s Chairman issued an executive decision no. 154 of 2018 on canceling Article (49) of listing and delisting rules that states the necessity of notifying the Stock Exchange and FRA of the company’s BOD decision regarding stock split , its reasons and justifications to be considered by the Stock Exchange and approved by the Authority . This comes after FRA’s BOD approval on the said amendment during its meeting yesterday.
FRA’s Chairman emphasized that this amendment comes within the framework of streamlining and speeding up procedures and granting the rights of shareholders in taking decisions related to their companies without the need for additional measures by the Authority or the Stock Exchange.
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