Minapharm Pharmaceuticals & Chemical Industries announced to shareholders that the company’s shares are now registered as of December 21, 2003 in the CENTRAL DEPOSITORY OF THE MISR FOR CLEARING SETTLEMENT & DEPOSITORY. Accordingly, starting said date, there will be no deals on the company’s shares except through a statement of account issued by an account statement. From now on all shareholders can deposit their shares at any of the approved custodians.

In anticipation of going public, it is imperative to begin to think and act like a public company to develop a publicly held attitude and mindset as soon as possible. This includes addressing housekeeping issues such as organizing and cleaning up financial records, establishing or reviewing internal controls, and reviewing company bylaws and stock option plans. While going public, the company has considered establishing and reviewing policies for corporate communications, developing an investor and public relations program, and setting aside resources to communicate with new constituents.

During this phase of time, the shareholders~ board agreed that there is no current intention to dispose any of the holdings at least for the first year. According to the Law of investment 159, the ten-year exemption expired this year and this occasion coincides with the decision of going public and thus making use of tax exemptions in light of that decision. By instituting a stock purchase plan for employees, public companies can, in effect, make employees owners of the company where they work. Such plans tend to elicit a stronger employee commitment to productivity and quality because they link employees’ financial future to the company’s success. At the same time, stock purchase plans may also offer employees an attractive investment on favorable terms. Similarly, stock-option bonus arrangements can be a powerful recruiting tool, since they link a portion of executive compensation to the company’s future.

National newspapers and magazines are much more likely to cover public companies than private companies and focus on products from a positioning and market-share perspective. National radio and television programs focusing on business and finance also contribute to this exposure with up-to-the-minute coverage of the markets and profiles of newly public companies. Even the daily stock market tables contribute to the general awareness of public companies. Likewise, a company’s annual report, quarterly reports, and corporate identity brochures publicize the company’s products as much as they define the company, outline strategy, and report on performance. The publicity that a public company generates by meeting its disclosure obligations may bring it to the attention of prospective suppliers and distributors, potential partner companies for joint ventures, or even a research laboratory or inventor with a marketable idea. Such relationships are strengthened by the added confidence that comes from knowing that the company has met stringent reporting requirements, plus stock market, financial, and corporate governance listing standards. The assurance that a company’s financial condition is subject to continued scrutiny by the market may even have a favorable effect on various business negotiations. Thus, the decision of Minapharm going public is a milestone for the company and evidently for the shareholders.