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.