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An announcement of the Issuance of the CMA Board Resolution to Amend the Regulatory Rules and Procedures Issued Pursuant to the Companies Law, its Guidance Note and the Instructions of the Announcements of the Listed Companies

​Proceeding from the CMA's program to achieve the Saudi Vision 2030, in continuation of the CMA's role in regulating and developing the rules governing the Exchange, and its efforts to promote the attractiveness of the Exchange and facilitate investment methods and make the capital market environment more stable, supportive to the national economy, and encouraging for investments. And based on the Capital Market Law issued by the Royal Decree no. (M/30) Dated 2/6/1424 H and the Companies Law issued by the Royal Decree Number (M/3) Dated 28/1/1437H, the CMA Board has issued its resolution including the following:

 
First, amending the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies issued by the CMA Board Resolution no. (8-127-2016) dated 17/10/2016, as follows:

  1. Amending the definition of the term " Prospectus" of paragraph (c) of Article (1) to be "Prospectus: the document required to offer securities in accordance with the Capital Market Law, and the Listing Rules or Parallel Market Listing Rules."
  2. Adding the definition of the "Parallel Market Listing Rules" to paragraph (c) of Article (1)  to be " Parallel Market Listing Rules: Parallel Market Listing Rules issued by the Authority’s Board."
  3. Amending paragraph (1) of Article (44) to be "The period of the trading in the pre-emptive rights and the subscription in the new Shares by the registered shareholders and the new investors  shall be determined in the  relevant prospectus."
  4. Deleting paragraph (2) of Article (44).
  5. Amending the order of paragraphs (3) and (4) of Article (44) to be (2) and (3).
  6. Deleting paragraph (b) of Article (45).

Second, amending the Guidance Note to the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies to reflect the amendments mentioned in paragraph (first) above.

 
Third, amending the Instructions of  the Announcements of the Listed  Joint Stock Companies in the Saudi Exchange.
 
The amended Regulatory Rules and Procedures and the Guidance Note can be viewed on the CMA’s website via the following links:

The amended Instructions of  the Announcements of the Listed Companies in the Saudi Exchange can be viewed on the CMA’s website via the following link:
Instructions of the Announcements