Article 153 of Companies Law

The company's memorandum of association may provide for granting certain privileges to certain classes of shares in respect of voting, profits, liquidation proceeds, or otherwise, provided that shares of the same class are equal in rights, privileges, or restrictions. The rights, privileges, or restrictions relating to a class of shares may not be amended except by a resolution of the extraordinary general assembly and with the approval of two-thirds of the holders of the class of shares to which the amendment relates. The Authority shall issue the conditions and rules for issuing preferred shares and converting them into ordinary shares, and the conditions and procedures for their redemption by the company. The Authority shall also issue the conditions and rules for trading preferred shares.