{"id":597867,"date":"2019-05-07T03:31:34","date_gmt":"2019-05-07T03:31:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/"},"modified":"2019-05-07T03:31:34","modified_gmt":"2019-05-07T03:31:34","slug":"gafi-issues-regs-on-how-preferred-shares-work-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/","title":{"rendered":"GAFI issues regs on how preferred shares work in Egypt"},"content":{"rendered":"

<\/a> REGULATION WATCH- Tweaks to regulations on how preferred shares (or preference shares, if you prefer) work: <\/b>The General Authority for Freezones and Investment (GAFI) has issued regulations for issuing preferred shares when establishing a new company or increasing the capital of an existing stock or shareholding company, it said in a statement<\/a>. The regulations include a requirement for companies to stipulate in their articles of association the privileges enjoyed by preferred shareholders. The regulation caps preference share voting rights at 2:1 and stipulates that the granting of 2:1 voting rights need to be approved by an extraordinary general assembly.<\/p>\n

What\u2019s preferred stock? <\/b>Preferred stock can entitle holders to extra votes, additional dividends or special treatment when a company is liquidated, among other things. So far as we can tell, companies were given the ability to create preferred stock as part of changes to the Companies Act (law 159 of 1981) back in January 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

REGULATION WATCH- Tweaks to regulations on how preferred shares (or preference shares, if you prefer) work: The General Authority for Freezones and Investment (GAFI) has issued regulations for issuing preferred shares when establishing a new company or increasing the capital of an existing stock or shareholding company, it said in a statement. The regulations include […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,461,343,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597867","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-gafi","tag-regulation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"95e1a479-6e89-4178-a420-2dfe6fab8fbd","is_powered_by":true,"section_story_id":"f6546a18-7c70-461f-befc-760bf81069df","story_type":"1","photo_url":"","photo_position":"above","related_issue":[597859],"teaser":"","voice_url":""},"yoast_head":"\nGAFI issues regs on how preferred shares work in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GAFI issues regs on how preferred shares work in Egypt\" \/>\n<meta property=\"og:description\" content=\"REGULATION WATCH- Tweaks to regulations on how preferred shares (or preference shares, if you prefer) work: The General Authority for Freezones and Investment (GAFI) has issued regulations for issuing preferred shares when establishing a new company or increasing the capital of an existing stock or shareholding company, it said in a statement. The regulations include […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-07T03:31:34+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"GAFI issues regs on how preferred shares work in Egypt\",\"datePublished\":\"2019-05-07T03:31:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/\"},\"wordCount\":160,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"GAFI\",\"regulation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/gafi-issues-regs-on-how-preferred-shares-work-in-egypt\/\",\"name\":\"GAFI issues regs on how preferred shares work in Egypt - 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These regulations include rules outlining the formation of boards and ensuring that the work of executive officers is in accordance with the Investment Act.","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601050,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/18\/gafi-amends-governance-regs-for-subsidiaries-of-state-owned-companies\/","url_meta":{"origin":597867,"position":4},"title":"GAFI amends governance regs for subsidiaries of state-owned companies","author":"enterpriseam admin","date":"18 February 2019","format":false,"excerpt":"REGULATION WATCH- GAFI amends governance regs for subsidiaries of state-owned companies: The General Authority for Investments (GAFI) has amended corporate governance regulations for companies whose shareholders include a state-owned companies holding a minimum stake of 25%, Al Mal reports. 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