Jordan Securities Commission Registers New Securities & Extends the Period of Time to Fulfill Issuance Procedures of Capital Increase in Shares of a Company

On January 22.2013 Jordan Securities Commission (JSC) Board of Commissioners chaired by H.E Mr. Mohammed Saleh Hourani, decided to extend the period of time to fulfill shares issuance procedures of capital increase in shares of Arab Jordanian Insurance Group Company of (2.5) million shares for a new period of time starting on December 31.2012 until February 10.2013.

The Board of Commissioners also decided on January 29.2013 to register capital increase in shares of Arab Assurers Company of (1.500.000) million shares via non public offer to shareholders whose names are stated in the Extra Ordinary General Assembly held on December 20.2012, at a nominal value of JD (1) per share & an issuance discount of Piaster (0.67) per share or (90%) of the Company’s share closure price of which is higher on the Boards’ approval date. The following terms must be fulfilled:

1. It is prohibited to deal in capital increase in shares allocated to shareholders stated in the Extra Ordinary General Assembly held on December 20.2012 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 Boards’ decision.
3. If any shareholder refrains from subscribing in shares allocated to him or part of them, the remaining unpaid ones will be unsubscribed shares, subject to the Commissions’ approval to be covered.
4. Fees must be settled as deemed proper.