JSC Covers Capital Increase in Shares of Jordan Poultry Processing & Marketing Company
01-Jul-2013
On June 25.2013 Jordan Securities Commission (JSC) Board of Commissioners chaired by HE Mr Mohammed Saleh Hourani decided by virtue of the provisions of Article (5) of the Securities Law No. (76) for the year 2002, to cover unsubscribed capital increase in shares of Jordan Poultry Processing & Marketing Company of (2) million shares, at a nominal value of JD (1) per share & an issuance discount of Piaster (500) per share or at an issuance price of not less than (90%) of the share market price of which is higher on the approval date of the Board of Commissioners. Allocate these shares to “Hamudeh Brothers for Trading & Investment Company” referred to in the decision of the company’s Board of Directors on June 2.2013. The following terms must be fulfilled:
1. It is prohibited to deal in these shares for one year, starting from the date of fulfilling issuance procedures at the Commission.
2. Shares issuance procedures must be fulfilled within at least (10) working days from notifying the Company of the Board’s decision.
3. In case the share is not traded on the approval date of the Board of Commissioners & to calculate the price of it, the last trading price prior to the Board’s approval date to cover shall be accredited.