Commercial Companies Law

Article 199 — Article (199) Rights Issue

Part Four: Public Joint Stock Companies · Chapter Four: Capital of Public Joint Stock Company

1. Without prejudice to the provisions of Articles [225], [226], [227], [228], [231], [285] and [299] of this Decree Law, the shareholders shall have priority to subscribe for newly issued shares. Any provision to the contrary in the company's AOA or the resolution increasing the issued capital shall be null and void. 2. The shareholder may sell the rights issue to any other shareholder or to a third party against a financial consideration. The SCA's board of directors shall issue the resolution regulating the conditions and procedures for selling the rights issue.

WAWhatsAppTGTelegram