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    • Chairman Message
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    • National Project
    • Events
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Executive Bylaws - CMA

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Executive Bylaws

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12-20 Provisions of Convertible Bonds Of Module Eleven: Dealing in Securities
Section: Chapter Twelve: Bond Regulations
  • Tuesday, 14 February 2017

    Company shall be entitled to issue Convertible Sukuk into Shares in accordance with a resolution issued by extraordinary meeting based on a reasoned proposal by the Board of Directors pursuant to the following regulations and provisions: 1. Establishing the rules, which convert Bonds into Shares in accordance with, especially the value of Shares upon which conversion shall take place. 2. The price of issuing Bonds shall not be less than the par value of Shares. 3. The total par value of Share which Bonds are proposed to be converted into, in addition to the par value of Shares of Issuer at the time of issue of this kind of Bonds shall not exceed the authorized capital. 4. The term within which the application of converting Bonds into Shares is permissible. 5. Eligibility of Bondholder to recover their value if it does not desire to convert them into Shares.

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