RRS Updates Rules for Egypt and Romania

RRS Updates Rules for Egypt and Romania

On 23 May, Solutions Atlantic released updated rules for Egypt and Romania.

Information pertaining to Egypt:

The EFSA announced new rules which will restrict investment in issued share capital or bonds convertible to shares (voting or non-voting) of securities companies licensed in Egypt.

Such investment will require pre-acquisition approval of any acquisition (directly or indirectly and either alone or through a related group) when the acquisition reaches or exceeds the following percentages of the company’s capital or voting rights: 10%, 25%, one third, 50%, two-thirds or 75%.

Information pertaining to Romania:

  • TDA standard disclosure thresholds apply.
  • Cash settled instruments need to be disclosed.
  • Introduction of 5% trading book exemption.
  • Indicative instruments may be disclosable if the conditions for disclosure are met.