Commercial Companies Law

Article 131 — Article (131) Constituent General Assembly

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

1. The Prospectus of offering the Company's shares at a Public Offering shall include a call to the shareholders to hold a Constituent General Assembly of the Company, the financial market's approval on the listing of the Company's shares and the date of commencement of trading on the Company's shares in the financial market. 2. Unless the AOA of the Company stipulates a higher percentage, the quorum of the Constituent General Assembly shall require the attendance of shareholders holding in person or by proxy at least [50%] of the capital of the Company. If the quorum is not reached, the meeting shall be postponed for a period between five [5] days and fifteen [15] days of the date of the first meeting. The postponed meeting shall be valid irrespective of the number of shareholders present. 3. The meeting shall be chaired by whoever is elected by the Constituent General Assembly for such purpose from among the founders. 4. Resolutions of the Constituent General Assembly shall be passed by a majority of shareholders holding at least three quarters of the shares represented at the meeting.

WAWhatsAppTGTelegram