EGX issues executive decision regulating agreement between listed SMEs, Nomads

CAIRO – 24 June 2021: Executive chairman of the Egyptian Exchange (EGX) Mohamed Farid issued Thursday a decision regulating the contract between listed companies and Nominated Advisors.

This decision comes as part of the structuring and development program of the Egyptian SMEs market.

The first article of the decision stated that the contract period should not be less than eight months, with the position of those companies to be reviewed in terms of fulfilling the tasks that the nomad must perform.

According to the executive decree issued on June 23, 2021, "all listed SMEs are obliged to provide EGX with a copy of the contract with the nomads within no more than two months of the date of this decision."

This step was announced after the celebration of the restructuring program of the SMEs market and the launch of Tamayuz Index on Wednesday in the presence of the Egyptian Prime Minister, Mostafa Madbouli, with the aim of developing this market.