In accordance with the Article (100/A) of the Companies Law No. 22 of 1997 and its amendments which stipulate: “The founding share in the Public Shareholding Company may not be disposed of prior to the lapse of at least two years from the founding of the Company. Any action in violation of the provisions of this Article shall be null and void.”

And according to the Article (21/A) of the Company’s Articles of Association which stipulate:” The founding share in the Public Shareholding Company may not be disposed of prior to the lapse of at least two years from the founding of the Company. Any action in violation of the provisions of this Article shall be null and void.”

An exception to this Lock-up stipulated in Paragraph (A) of this Article is the transfer of the founding share to the heirs and between spouses, ascendants and descendants, as well as its transfer from one founder to another in the company and the transfer of the share to others by a judicial decision or as a result of its selling in the auction in accordance with the provisions of the law.

Whereas, the SDC will release the lock-up of the Founding Shares of the Middle East Holding company on 19/02/2022 upon the lapse of two years of the founding date.