The Egyptian Exchange (EGX) issued Decree no. 617 of 2021, granting listed SMEs a week effective Tuesday, August 24, 2021, ending on August 31, 2021 to contract with one of the nominated advisors registered by EGX.
The executive decision extending the deadline for reconciling the conditions of SMEs of Decree no. 515 of 2021 controlling listed SMEs contracting with registered nominated advisors, where Article 1 stipulates; All listed SMEs are obliged to contract a registered nominated advisors for at least 8 months, provided that the position of these companies is reviewed in terms of fulfilling the tasks to be performed by nominated advisors. Article 2 of the Decree included that all companies referred to in Article 1 of this decision must comply with a copy of the contract with the nominated advisors within two months of the date of the decision.
The Decree no. 617 obliges listed SMEs to provide EGX with a copy of the contract with the nominated advisor during the deadline granted to them, which is a week from next Tuesday, August 24th.
