Mubasher, 14 July 2024: The Qatar Financial Markets Authority has issued new regulations for the company’s purchase of its shares for the purpose of selling.

These new regulations come within the framework of the Authority’s efforts to develop the Qatari capital market and improve investor confidence, while the Authority affirms its commitment to protecting investors’ rights and ensuring a fair and transparent investment environment.

The provisions of the new regulations specified by the Authority include notifying the Authority and the Market of the Board of Directors’ decision to purchase a percentage of the company’s shares immediately upon its issuance.

The application shall be submitted to the Authority on the approved form within two days from the date of issuance of the Board of Directors’ decision approving the purchase process.

The application is for either purchasing a percentage not exceeding 10% of the fully paid issued shares or purchasing a percentage exceeding the ownership ceiling specified in the company’s articles of association.

The required documents from the Authority must be attached to complete the procedure.

The regulations also include, among other things, that the Authority shall issue its decision on the application within fifteen days from the date of submitting the application that fulfils the conditions and requirements.

The lapse of this period without issuance of a decision by the Authority shall be considered an implicit rejection of the application.

The company shall notify the market of the authority’s approval immediately upon its issuance, provided that the market announces the approval according to its procedures.

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