JSC Registers New Securities & Suspends Trading of Members of the Board of Directors, General Manager & Financial Manager in Ejada for Financial Investments Company
24-Jun-2012
On June 19.2012 Jordan Securities Commission (JSC) chaired by the Board of Commissioners 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 capital increase in shares of Dar Al-Dawa Development & Investment Company of (2) million shares via capitalizing JD (2) million of the private reserve as on December 31.2011. Distributing this increase to shareholders as free shares; each shareholder according to his contribution in the capital, in condition fees are settled as deemed proper.
2. Registration of capital increase in shares of Arab Jordanian Insurance Group Company of (2.5) million share at a nominal share value of JD (1) & an issuance discount of Files (0.60) per share via capitalizing accounts payables (subordinated to the capital) amounting JD (1) million & allocating these shares to shareholders stated in the Company Letter No. 100/289/2012 dated May 8.2012.
The following terms must be fulfilled:
• It is prohibited to deal in capital increase in shares for one year starting from the date of fulfilling issuance procedures at (JSC).
• Shares issuance procedures must be fulfilled within at least (10) working days from notifying the Company of the Board of Commissioners decision.
3. Registration of the 20th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 10.2015, at a value of JD (50) million & address the (SDC) to register them.
4. Registration of the 21st issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 14.2014, at a value of JD (50) million & address the (SDC) to register them.
5. Registration of the 22nd issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 16.2014, at a value of JD (50) million & address the (SDC) to register them.
6. Registration of the 23rd issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 20.2014, at a value of JD (50) million & address the (SDC) to register them.
7. Registration of the 24th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 22.2014, at a value of JD (50) million & address the (SDC) to register them.
8. Registration of the 25th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 28.2014, at a value of JD (75) million & address the (SDC) to register them.
9. Registration of the 26thissuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 31.2014, at a value of JD (100) million & address the (SDC) to register them.
10. Registration of the 27th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on June 4.2014, at a value of JD (75) million & address the (SDC) to register them.
11. Registration of the 10th issuance of Jordanian treasury bills for the year 2012 at a maturity date on May 24.2013, at a value of JD (75) million & address the (SDC) to register them.
The Instructions of Issuance & Registration of Securities for the year 2005 oblige companies having the approval to register capital increase in shares to the following:
• Publish at least twice in two local daily newspapers the data & information of the issuance process, including its value & parties allotted to them this issuance. The approval number & date of the Board of Commissioners decision to register these shares must be indicated clearly & (JSC) must be notified.
• Issue a public declaration of registering capital increase in shares. The approval number & date of the Board of Commissioners decision must be indicated clearly.
The Board of Commissioners also decided to suspend trading of Members of the Board of Directors (natural & legal persons, as well as their representatives), General Manager & Financial Manager in shares of Ejada for Financial Investments Company, whether trading for their own benefit or through controlled companies by anyone of them in non public shareholding companies, starting from June 20.2012 & until further notice.