Egypt's revolution is facing "grave threats" in the wake of Thursday's controversial High Constitutional Court ruling to dissolve parliament, eliminated presidential hopeful Hamdeen Sabbahi said on Friday. Sabbahi nevertheless said it was important to respect all judicial rulings.

Sabbahi went on to stress that Egyptian revolutionaries should learn from past mistakes.

He also urged Egypt's political forces to form a Constituent Assembly to draft a new constitution if the current assembly was disbanded following the court ruling.

Sabbahi stressed, however, that it was crucial to draft a new constitution before fresh parliamentary elections are held.

He also urged Egypt's ruling military council to reiterate its commitment to hand over power on 30 June, as per its earlier promises.

Sabbahi came in third place in last month's first-round presidential vote, garnering some 21 per cent of total votes cast.

The prominent Nasserist will not support either presidential finalist – neither Muslim Brotherhood candidate Mohamed Morsi nor Mubarak-era PM Ahmed Shafiq – in a runoff vote slated for Saturday and Sunday.

Nevertheless, Sabbahi, who has said that voting for Shafiq is a "moral crime," stated that he would not tell the public who to vote for.