Wednesday December 9 2015
News Source: Global Exchanges
Focus: Listing Rules
Type: General
Country: Bahrain
Link: http://www.bahrainbourse.net/bhb/about_us/news_show.asp?value=1241
Upon the approval of the Central Bank of Bahrain (CBB), Bahrain Bourse has issued resolution No. (5) regarding amending the listing requirements of the listed shareholding companies on the Main Board in Bahrain Bourse, including the currently listed companies on the Bourse and the companies that intend to list their securities in the future.
According to the resolution, all of the listed shareholding companies on Bahrain Bourse are required to take the necessary procedures to amend their status in line with the amendments stated in the resolution, which includes registering and depositing the issued shares in the Clearing, Settlement, Central Depository & Registry system in the Bourse, provided that the establishment and management of the shareholders’ record in the company is in line with the electronic registry system licensed by the Central Bank of Bahrain and approved by the Bourse.
The resolution also raises the minimum capital of the listed company to one million Bahraini Dinars or its equivalent in other currencies, in addition to raising the minimum company’s shareholders to 100 excluding the shareholders from the company’s employees, staff, and key persons and their directly related people.
Additionally, the resolution approved a number of amendments related to the company’s profitability, its financial conditions, the balance of its financial structure, and its performance efficiency by applying the requirements of transparency & disclosure standards, and corporate governance standards issued by the Central Bank of Bahrain (CBB).
Click on the link above for further details.