Article 172 Starting Date: 02/10/2002
Debentures declared for public subscription shall be made through one or more banks accredited and operating in the State. Debentures shall be offered to the public at least fifteen days in advance by advertisement in two local daily newspapers published in Arabic and shall be signed by the members of the Board of Directors and include particulars determined by a decision issued by the Ministry. These particulars, inter alia, include the following: Decision of the general assembly for the issue of debentures and its date. Number of debentures issued and their value. Commencement and end date of subscription. Date of maturity of debentures, terms of payment and payment guarantees. Value of debentures already issued, their guarantees and the unpaid amount thereof upon the issue of the new bonds. The company capital. Headquarters of the company, date of incorporation and duration. Value of shares in kind. Summary of last balance sheet of the company approved by the accounts auditor.