Jordan Securities Commission Pursues the Suspension of Trading in Shares of International Cards Company & Registers New Securities on April .2013
07-Apr-2013
On April 7.2013, Jordan Securities Commission (JSC) Board of Commissioners chaired by H.E Mr. Mohammed Saleh Hourani, decided to pursue the suspension of trading in shares of International Cards Company. The suspension shall remain until Thursday April 11.2013.
The Board of Commissioners decided also on April 2.2013, by virtue of the provisions of Article (5) of the Securities Law No. (76) for the year 2002 to approve registration of the following securities & to address the Securities Depository Center (SDC) to register them:
1. Twelfth issuance of Jordanian Treasury Bonds for the year 2013 at a maturity date on March 11.2016, at a value of JD (75) million.
2. Thirteenth issuance of Jordanian Treasury Bonds for the year 2013 at a maturity date on March 13.2016, at a value of JD (75) million.
3. Fourteenth issuance of Jordanian Treasury Bonds for the year 2013 at a maturity date on March 17.2016, at a value of JD (75) million.
4. 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 & at 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 & Investments Company”, as is stated in the Company’s Board of Directors decision on March 7.2013. The following terms must be fulfilled:
• It is prohibited to deal in these shares for one year, starting from the date of fulfilling issuance procedures at the Commission.
• Shares issuance procedures must be fulfilled within at least (10) working days from notifying the Company of the Board’s decision.
• To calculate the price: in case there is no trading on the share on the date of the Board of Commissioners decision, the last trading price prior to their approval date to cover shall be accredited.
Furthermore, on March 26.2013, the Board of Commissioners decided by virtue of the provisions of Article (5) of the Securities Law No. (76) for the year 2002 to approve registration of the following securities & to address the (SDC) to register them:
1. Eleventh issuance of Jordanian Treasury Bonds for the year 2013 at a maturity date on March 7.2013, at a value of JD (75) million.
2. Capital increase in shares of Al-Eqbal Investment Company of (5) million shares, via capitalizing JD (3.178.307) million of voluntary reserve & JD (1.821.693) million of retained earnings. Distribute this increase to shareholders as free shares; each shareholder according to his contribution in the capital. Fees must be settled as deemed proper.