Board of Commissioners Decisions on October 23.2013
23-Oct-2013
On October 6.2013 Jordan Securities Commission (JSC) Board of Commissioners chaired by HE Mr Mohammed Saleh Hourani decided to exclude the issuance of the governmental corporate bond (Eurobond) from being listed at the Amman Stock Exchange (ASE), of which nominal value is expected to reach $ (1.25) billion in total and shall be offered internationally.
On October 8.2013 the (JSC) Board of Commissioners also decided the following:
1. To extend the period of time to fulfill Issuance Procedures of unsubscribed capital increase in shares of Winter Valley Tourism Investment Company of (552.974) thousand shares until November 15.2013.
2. To adopt the following new “Principles” concerning taking measures against Non-Issuing Financial Services Companies violating the provisions of Articles (71 & 72) of the Instructions to Financial Services Licensing and Registration for the year 2005 by virtue of the provisions of Articles (8/B, 21, 12/B and 22) of the Securities Law No (72) for the year 2002:
A. The Board of Commissioners shall send a warning to the company about providing the Commission with its Annual and Semi-Annual Report during one month from the date of the end of the specified period of time and register the violation in the company’s record.
B. The Board of Commissioners shall impose a JD (500) monetary fine on the company, shall it provide the Commission with its Annual and Semi-Annual Report after a period of time exceeding one month and less than two months of the specified date and register the violation in the company’s professional record.
C. The Board of Commissioners shall impose a JD (100) monetary fine on the company on every month of delay or part of it, for failing to provide its Report to the Commission on the specified period of time in Item (2) above, of which shall not exceed JD (1000) and shall be registered in the company’s professional record.
D. The Board of Commissioners shall take further measures accepted by the Securities Law No (76) for the year 2002, shall the fine exceeds the maximum limit specified in Item (3) above and the violation continues.