On 23 July 2024, EGY FRA issued Decision No. 148/2024 amending Decision 11/2014.

• Document dated 23 July 2024, received from EGY FRA 28 July, summarized on 30 July.
• Article 7 bis re Shareholding Restrictions for Special Purpose Acquisition Companies required that company's issued and paid-up capital must not be less than 10 mn EGP.
• Company shall increase its capital to 100 mn EGP in 3 months from listing its shares.
• Listed data that shall be included in information memorandum when offering a capital increase shares in private subscription to qualified investors or financial institutions.
• Prohibited dealing with insiders, board of directors members, company officials, and persons with access to unavailable info to third parties regardless of their percentage.
• Also substantial shareholding of 20% or more of company's share capital, acting alone or via associated persons, in 5 business days preceding and day following info publication.
• Allow opening Redemption Account on EGX to purchase affected shareholders' shares.
• Enumerated 2 cases for delisting shares of companies with the purpose of acquisition.
• Decision is effective the day following its publication in the official gazette, Jul. 24.