Creating a platform for trading shares of undisclosed joint-stock companies

Statement - Trading Mechanisms

S/" company's stock trading platform

         Based on Legislative Order No. 74 of 2004 and the taken measures in accordance with

         Instructions and rules issued by the Securities Commission and the Iraq Stock Exchange and for

         protecting the rights of shareholders in joint stock companies listed on the Iraq Stock Exchange

and attract potential investors, Decide the following:

First: The procedures of a platform for trading shares of undisclosed joint-stock companies

1. Create a platform for trading shares of undisclosed joint-stock companies

2. No Pre-Open Period Shares (introductory session)

3 .The Limits of percentage change per session 5%   Up and down from the previous closing price.

4. In the first trading session at the Platform, keeping the price at a rate of 50% change from the last closing price of the share.

5. Companies covered:

This platform includes companies that have ISC already decided to suspend it from trading due to its failure to provide the required disclosures, as the following:

·       Electronic Industries Company.

·       Light Industries Company.

·       Al Badia Public Transport Company.

·       Modern Construction Materials Industry Company.

·        Iraqi Land Transport Company.

·       Babylon Bank Company.

·       Al Batik Financial Investments Company.

·       Modern for Animal Production Company.

·       North Bank Company.

·       Al Khair Financial Investment Company.

·        Iraqi Transport of Petroleum Products Company.

And whoever from the listed companies, the commission decides in the future to be included in trading in this platform.

6. Trading under the new platform will be launched from Sunday 3/7/2022

7. The above-mentioned companies must abide by what was stated in the numbered Securities Commission book 10/1432 on 06/22/2022. And its book No. 10/1440 on 06/26/2022, which includes that the Suspended companies should submit a minimum disclosure (a report on the company’s status from the date of submitting the last financial data / lawsuits / mortgage and foreclosure / any material events affecting the company activity).

8. The experience and mechanisms are evaluated after three months from the start of the application and to take advantage from the notes indicated on the application according to an evaluation efficiency examination form.

Second: Based on the same decisions above and in order to activate trading in the regular platform, The changing rates for the price limits will be adjusted from 10% to 15% as of 3/7/2022.

Third: the risks of investing and trading in shares of the Undisclosed companies.

Based on the work principles of securities commissions and stock exchanges and the principles of IOSCO, so, it is the duty of ISC and Iraq Stock Exchange, to inform you of the following:

1. The shareholder and potential investor will hold the responsibility for buying and selling the Listed shares of the undisclosed company's platform - based on company's investment decisions.

2. Brokerage companies will make a note in the buy and sell authorization and in the investor agreement, includes the phrase that the shareholder and investor are informed of the above-mentioned and acknowledges that he is liable for any risks that appear later on, due to lack of information and data - lack of disclosure - for joint stock companies on this platform.

            Hassan Al-Ukaily

Chairman of Iraq Securities Commission