Commercial Companies Law

Article 124 — Article (124) Subscription Controls and Procedures

Part Four: Public Joint Stock Companies · Chapter One: Definition and Incorporation of the Public Joint Company and its

1. Subscription shall remain open throughout the duration described in the Prospectus, which may not exceed thirty [30] business days. 2. If all shares offered for subscription are not fully underwritten within the specified duration, the Founders Committee may apply to the SCA for approval to extend the period of subscription for an additional period not exceeding the duration specified in the Prospectus. 3. If the additional period expires without all shares offered for public subscription are underwritten, the founders may underwrite the remaining shares subject to the requirements of the SCA in this regard.

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