Board's Decisions in 9-May-2020

 To complement the incentive steps of updating the legislation that was approved to confront Corona and prepare to start the trading session in the Amman Stock Exchange, the Board decided the following:
First: Amending the Provisions of Article (2) of Instructions of Shares Buyback by Public Shareholding Companies (Treasury Stocks) as follows:2. Announcement,  Disclosure to the Commission and financial market.
Second: Amending the Provisions of Article (4/C) of Instructions of  shares  Buyback by Public Shareholding Companies (Treasury Stocks)  as follows: the company’s shares buyback process shall be subject to the following: The purchase of Treasury Stocks shall not be financed by borrowing and the company shall not have existing bonds.

Third: Amending the provisions of Article (5/D) of Instructions of Shares Buyback by Public Shareholding Companies(Treasury Stocks) as follows: (- Deleting paragraph (5 / d) and replacing it with the following: - The company may implement  the purchase process  on the next business day to disclose the date of purchase.
Fourth: Deleting paragraph (A) of Provisions of Article (6) of Instructions of Buyback by Public Shareholding Companies (Treasury Stocks).
Fifth: Deleting Paragraph (B) of this provisions Article (6) of Instructions of Buyback by Public Shareholding Companies (Treasury Stocks).
Sixth: Amending Provisions of Article (6/C) of Instructions of Buyback by Public Shareholding Companies (Treasury Stocks) to become as follows:
The company shall implement purchase process   within two months and these amendments shall be effective as of the date of this decision.