JSC Registers New Securities & Renews Registrations Granted to Registered Persons of Financial Services Companies for 2012 on 08/03/2012
08-Mar-2012
On March 7.2012 Jordan Securities Commission (JSC) chaired by the Board’s Chairman Mr. Mohammad Tash & the membership of the following Commissioners: Deputy Chairman Dr Ahmad Mustafa, Mr. Mansour Haddadin, Mrs. Muna Al-Mufti & Mr. Majd Shafiq, decided to approve new securities registration for a number of companies. Provisions of Article (5) of the Securities Law No. (76) for the year 2002 stipulates that: “Every Issuer in the Kingdom shall submit to the Commission an application for registering securities therewith in accordance with the Instructions issued by the Board”. By virtue of this Article every issuer of securities is obliged to submit to the (JSC) an application to register these securities & to have (JSC) prior approval.
The Board of Commissioners approved the following:
1. Registration of the 3rd issuance of Jordanian treasury bonds for the year 2012 at a maturity date on January 15.2016, at a value of JD (37.5) million & address the Securities Depository Center (SDC) to register them.
2. Registration of the 4th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on January 19.2017, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
3. Registration of the 5th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on January 29.2014, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
4. Registration of the 1st issuance of Jordanian treasury bills for the year 2012 at a maturity date on July 23.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
5. Registration of the 2nd issuance of Jordanian treasury bills for the year 2012 at a maturity date on August 14.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
6. Registration of the 6th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on February 8.2014, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
7. Allow some shareholders of Jordan Ahli Bank to practice their subscription rights in capital increase in shares according to the number of shares they own, as they are at the end of the trading rights period of time. Allow them to transfer these shares ownership via the Securities Depository Center (SDC).
8. Allow a shareholder of Invest Bank to practice his subscription right in capital increase in shares according to the number of shares he owns, as they are at the end of the trading rights period of time. Allow him to transfer these shares ownership via the Securities Depository Center (SDC).
The Board of Commissioners also decided by virtue of the Provisions of Article (49/A) of the Securities Law No. 76 for the year 2002 stipulating the following:
1. “The license or registration granted in accordance with the Provisions of Article (48) of this Law shall expire on the 31st day of December of each year.
2. The Board may issue a new license for the succeeding year upon written application submitted for this purpose & payment of the fee specified by the Board.
3. An applicant for a license or registration shall file any additional data or information necessary for this purpose. Applications for renewals must be made not less than 30 days before the first day of the ensuing year, otherwise they shall be treated as new applications”.
A. To renew registration granted to Registered Persons of Financial Services Companies for 2012 as deemed proper. And to renew registration granted to Registered Persons of Financial Services Companies to suspend their businesses/activities & to pursue these suspensions.
B. Not to renew licenses granted to Kuwait & Middle East Financial Investment/Jordan & Sukook Investment & Brokerage Companies to undertake businesses they requested to be licensed for.