Versions

 

Article One

The Bahrain Stock Exchange may register the Bahraini closed joint stock companies, subject to the following conditions:

1. The company should have complied with all provisions relating to the closed joint stock companies, as prescribed in Decree Law No. (28) of 1975, in respect of the Commercial Companies Law and its amendments.
2. That the paid-up capital shall not be less than BD200,000, or its equivalent in other currencies. Shares in excess of BD200,000 shares shall be at least 50% paid up.
3. The price of the shares issued by the company shall not be less than the paid percentage of the nominal value of the shares.
4. The company should issue the annual financial reports and final accounts within six months from the end of the company's financial year.
5. If the company undertake activities outside the State of Bahrain, it should appoint a registrar and transfer in Bahrain.
6. The company's financial position should be sound in terms of its assets, liquidity, stability of its financial structure and efficiency of performance.
7. The company should have achieved profits during the last two years preceding the submission of the application, or for three years during the last five years.
8. The company should undertake to comply with the terms of the closed Joint stock companies Registration Agreement (enclosed).
9. Any other conditions that may be issued from time-to-time by the Exchange's Board of Directors.
10. The Exchange's Board of Directors may exclude some of the previous conditions, provided that the company should complete its registration procedures and conditions.