Law No. (7) of 1997 concerning the Establishment of Abu Dhabi Polymers Company Ltd. (Borouge)

Article 1 — The word “stocks” shall be replaced by the word “shares” wherever it appears ¶

in the provisions of the aforesaid Law No. (7) of 1997.

Article 6 — -- 6 of 14 -- ¶

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The shares of the Company shall be owned by:
1. Abu Dhabi National Oil Company (ADNOC) with 60% of the Company's
capital.
2. BOREALIS Company with 40% of the Company's capital.

Article 7 — • The two companies that own the capital of the Company, as stated in the ¶

aforesaid Article (6), may not dispose of the shares they own without the
prior written consent of the Supreme Council for Financial and Economic
Affairs.
• As an exception to the provision of the previous paragraph, shares may be
transferred between any of these two companies and their affiliates and
companies wholly owned by them.
Article (3)
• Paragraph (2) of Article (10) of the aforesaid Law No. (7) of 1997 shall be
repealed.
• Any provision contrary to the provisions of this Law shall be repealed.
Article (4)
This Law shall be effective from the date of its issuance and shall be published
in the Official Gazette.
Khalifa bin Zayed Al Nahyan
Ruler of Abu Dhabi
Issued by us in Abu Dhabi
On: 09 May 2022
Corresponding to: 08 Shawwal 1443 Hijri

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Executive Council
Resolutions
Executive Council Resolutions

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