Kuwaiti Closed Shareholding Companies that submit a Listing Application for its Shares in the Main Market shall meet the following conditions: 1. The issued capital of the company shall be fully paid and shall not to be less than 10,000,000 Kuwaiti Dinars. The total shareholders’ equity to the weighted average paid up capital in the last two financial years shall not be less than 110%, based on the audited annual financial statements prior to the Listing Application date. 2. The company’s Shares shall be tradable and freely transferable with no restrictions concerning the transfer of the ownership. 3. The company shall have achieved net profits for the last two financial years at least, and the net profits of any of the two years shall not be less than 5% of the paid up capital. 4. The revenues realized by the company from one or more of its main activities shall not be less than 75% of its total revenue according to the annual audited financial statements for the last two financial years. 5. The company shall have passed at least three full financial years since the date of the company incorporation, for which annual financial statements has been approved by the general assembly for the last three years prior to the date of submitting of the Listing Application. 6. The company shall have practiced one or more of its main licensed activities in conformity with the Company Contract, during the last three financial years prior to the date of submitting the Listing Application. 7. Obtaining the approval of the company’s ordinary general assembly for listing its Shares on the Exchange, provided that not more than twelve months have passed since the approval. 8. The number of the company’s shareholders shall not be less than two hundred. The Authority may issue its initial listing approval resolution if the required number of shareholders is reached within two months from the mentioned date, otherwise the approval shall not be considered valid. Excluding the Controllers, the ownership of the shareholders of the company shall not be less than 30%. 9. Appointing a Compliance Officer responsible for the following of the rules and regulations of the Regulatory Bodies and the public investors. 10. Appointing a Listing Advisor. 11. Any other conditions or regulations stipulated by the Authority. The company submitting a Listing Application may meet the condition stipulated in Item (8) of this Article subsequent to obtaining Authority’s approval to listing.