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Article 18

Joint stock companies whose shares are admitted for trading on the Exchange, shall be classified into two categories:

i) Listed companies.
b) Unlisted companies, whose securities are admitted for trading on the Exchange.

Trading on the Exchange shall be exclusively permitted to the securities of the following companies:

1. Bahraini joint stock companies, which offer their shares for public subscription.
2. Non-Bahraini joint stock companies, subject to the approval of the Exchange's Board.
3. Any other companies approved in the Exchange's Board.

The Internal Regulations shall regulate all matters regarding the listing of joint stock companies, unlisted companies whose securities are admitted for trading on the Exchange, and the procedures for the registration thereof. The abovesaid regulations shall set forth rules to regulate and control all its business activities.

Listed companies and unlisted companies whose securities are admitted for trading on the Exchange shall pay the annual registration fee, listing fee and admission for trading fee, as determined by the Exchange's Internal Regulations.