Executive Council Resolution No. (64) of 2022

Prescribing the Maximum Percentage of the

Salik Company PJSC Shares to be Offered for Public Subscription[1]


We, Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council,

After perusal of:

Federal Law No. (4) of 2000 Establishing the Emirates Securities and Commodities Authority and Market and its amendments;

Federal Law by Decree No. (32) of 2021 Concerning Commercial Companies;

Cabinet Resolution No. (12) of 2000 Regulating the Listing of Securities and Commodities and its amendments;

Law No. (3) of 2003 Establishing the Executive Council of the Emirate of Dubai;

Law No. (12) of 2022 Establishing the Salik Company PJSC;

Decree No. (3) of 2021 Concerning the Listing of Stocks of Joint Stock Companies on the Securities Markets in the Emirate of Dubai;

Resolution No. (3) of 2022 Concerning Representation of the Government of Dubai in the Companies it Owns; and

Executive Council Resolution No. (41) of 2022 Approving the Organisational Structure of the Salik Company PJSC,

Do hereby issue this Resolution.

Maximum Percentage of Shares

Article (1)

The shares of the Salik Company PJSC that may be offered for public subscription and transferred to others must not exceed twenty-four point nine percent (24.9%) of its share capital.

Commencement and Publication

Article (2)

This Resolution comes into force on the day on which it is issued, and will be published in the Official Gazette.

Hamdan bin Mohammed bin Rashid Al Maktoum

Crown Prince of Dubai

Chairman of the Executive Council

Issued in Dubai 2 September 2022

Corresponding to 6 Safar 1444 A.H.

2022 The Supreme Legislation Committee in the Emirate of Dubai

[1]Every effort has been made to produce an accurate and complete English version of this legislation. However, for the purpose of its interpretation and application, reference must be made to the original Arabic text. In case of conflict, the Arabic text will prevail.