After his meeting with DR. Ahmed Saad – the chairman of the CMA, DR. Mahmoud Mohy Eldeen – the minister of investment stated that there shall be no restrictions on purchasing treasury shares, but the companies shall not hold its purchased shares for more than a year. So in this respect, the companies shall hold its shares in a way that do not affect the structure of ownership or damage the rights of minority.

It’s noteworthy to say that this amendment was set upon the request of the listed companies which have a good and stable economic and funding basis.

Upon the request of the companies, the CMA asserts the activation of the exemption stated in the acquisition rules, that shall allow the Holding Company to purchase a part of the shares of its affiliates in order to keep its investments when the value of the affiliates’ shares is reduced and when the value of the affiliates’ shares is less than the fair value calculated by the Holding Company.