Jordan Securities Commission Takes Measures against Companies Submitting Late Periodic Disclosures on May 8.2013

By virtue of the provisions of Article (43/A-1) of the Securities Law stipulating the following:

“Every Issuer shall file with the Commission an Annual Report including Financial Statements certified by an auditor, within 90 days of the end of its fiscal year” & by virtue of the Provisions of Article (4) of the Instructions to Disclosure stipulating the following:

“The Board of Directors of the Issuing Company shall prepare the Company’s Annual Report within three months from the end of the Company’s fiscal year & shall provide the Commission therewith”, (233) companies submitted to the Jordan Securities Commission (JSC) their 2012 Annual Report or their certified Financial Statements until May 7.2013 representing (88.3%) of the total number of companies.

Therefore, the Commission publishes here a “List of Names of Companies” that failed to provide it with their 2012 Annual Report or their 2102 certified Financial Statements until now. The “List of Names of Companies” below contains (31) company.

Furthermore, the Commission shall take measures such as, suspending trading of shares of companies for failing to submit their disclosures on the required disclosure dates. The Commission’s measures shall protect investors, ensure public interest, regulate & monitor disclosure, including disclosures of Public Shareholding Companies (PSCs) Annual Reports & any other periodic reports on their specified dates.

The Commission expects all (PSCs) to comply with the provisions of the Securities Law & Instructions issued pursuant thereto.

 List of Names of Companies

No Company Name
1 Holy Land Insurance
2 Aman for Securities (Unlisted)
3 Universal Chemical Industries
4 The Jordanian Electric Power
5 National Steel Industry
6 Darkom Investment
7 Ejada for Financial Investments
8 Taameer Jordan (Holdings)
9 Jordan Press & Publishing
10 International Ceramic Industries
11 Arab Real Estate Development
12 United Arab Investors
13 The Investors & Eastern Arab for Industrial & Real Estate Investments
14 Model Restaurants
15 Darwish Al- Khalili & Sons
16 Jordan Petroleum Refinery
17 Arab German Insurance
18 Al Barakah Takaful
19 Ard Anomow for Real Estate Development & Investment
20 Al Ahlia Enterprises
21 Al Jamil for General Investments
22 United Integrated for Multiple Industries & Public Investments
23 United Group (Holdings)
24 Amana Agricultural & Industrial Investment
25 Amwal Invest
26 Awtad for Diversified Investments
27 Beit Al Mal Saving & Investment for Housing
28 Afia International (Jordan)
29 Middle East Complex for Engineering, Electronics & Heavy Industries
30 Al-barakat Investment Group
31 Alkindi Pharmaceutical Industries (Unlisted)