1. Unless, after its incorporation, the company has listed its shares on any of the financial markets in the State, the board of directors shall, within three months of the date of registration of the company in the Commercial Register with the Competent Authority, issue share certificates instead of notifications of share allotment. 2. Share certificates shall be signed by at least two directors, stating the name of the shareholder, the number of the shares subscribed to them, the method of payment for the shares' value, the amount paid of such value, the date of payment, the serial number of the certificate, the numbers of the shares held by the shareholder, the issued capital of the company, the headquarters and the term of the company and the date of the resolution authorizing the incorporation of the company. Such certificates shall substitute the shares. The share certificates may be issued, signed and kept electronically in accordance with the controls issued by the SCA in this regard. 3. If the value of the share is to be paid in instalments, the obligation of the company to deliver the share certificate shall be deferred until the value of the shares has been paid in full. It shall not be permitted for shares that represent the in-kind contributions to be delivered until the ownership of such in-kind contributions has been transferred to the company.
Interpretation and application must be checked against the official text and current version.