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The Financial Regulatory Authority (FRA) has affirmed its ongoing monitoring of the Premium Healthcare Group file, announcing the latest developments regarding the company's Ordinary General Assembly scheduled for August 25, 2026. This comes within the framework of the FRA's supervisory role to protect investors' rights and ensure the integrity and stability of non-banking financial markets.

In an official statement, the FRA clarified that the invitation to convene the assembly, which was published on the Egyptian Exchange (EGX) trading screens on July 30, 2026, was issued upon a request submitted by shareholder Mahmoud Ahmed Mahmoud Lasheen and related parties. The assembly's agenda includes several items, most notably reviewing a reconciliation request submitted by Lasheen and the appointment of a new auditor for the company.

Reconciliation Request Outside FRA Jurisdiction

The Authority revealed that on July 30, 2026, it formally addressed the legal representative of shareholder Mahmoud Ahmed Mahmoud Lasheen, informing him that the FRA lacks the jurisdiction to consider the submitted reconciliation request.

The FRA explained that the facts subject to the request involve accusations related to the misappropriation, or the facilitation of the misappropriation, of company funds. Such offenses fall outside the scope of the FRA’s reconciliation jurisdiction under the provisions of Article (16) of the Law Regulating Non-Banking Financial Markets and Instruments.

Mandating E-Voting Procedures

In preparation for the General Assembly, the FRA stated that it has contacted the General Authority for Investment and Free Zones (GAFI) to take the necessary legal actions. Foremost among these measures is obligating the company to fulfill the electronic voting requirements stipulated in the securities listing and delisting rules.

The company is required to publish a correction to the assembly invitation prior to the meeting date. This correction must detail the electronic system to be used, the supervising entity, and the mechanisms for attendance and voting, ensuring that all shareholders are fully empowered to exercise their rights on an equal footing.

Recommendation to Bar Certain Shareholders from Voting

Furthermore, the FRA recommended barring shareholder Mahmoud Ahmed Mahmoud Lasheen, along with a group of shareholders who are subject to asset freeze orders by the Public Prosecution or named in ongoing prosecution investigations, from voting. This group collectively holds approximately 32% of the company's capital.

The Authority emphasized that these shareholders should not be permitted to vote on resolutions related to their legal statuses or personal liabilities. Additionally, their votes must not be counted within the quorum required to approve these decisions. This measure aims to prevent conflicts of interest, ensure the true will of the General Assembly, and protect the rights of the remaining minority shareholders.

The FRA stressed that these actions are an integral part of its regulatory and supervisory mandates. It is actively coordinating with relevant authorities to ensure the validity of the General Assembly’s procedures and to solidify the principles of corporate governance and transparency within the capital market.

Concluding its statement, the FRA affirmed that it will continue to closely monitor the proceedings of the upcoming August 25 General Assembly. The Authority warned that it will take all necessary regulatory and legal measures within its jurisdiction should any violations be detected, thereby safeguarding the rights of investors and bolstering confidence in the Egyptian capital market.