Jordan Securities Commission Registers New Securities on 26/11/2012

On November 13.2012 Jordan Securities Commission (JSC) Board of Commissioners chaired by H.E Mr. Mohammed Saleh Hourani, decided to approve registration of capital increase in shares of Arab Jordanian Insurance Group Company of (2.5) million shares, at a nominal value of JD (1) per share & an issuance discount of Files (0.60) per share or (90%) of the Company’s share closure price of which is higher on the Boards’ approval date, via non public offer for a number of shareholders whose names are stated in the Extra Ordinary General Assembly decision held on October 13.2012. The Boards’ decision is taken by virtue of the Provisions of Article (5) of the Securities Law No. (76) for the year 2002. The following terms must be fulfilled:

1. It is prohibited to deal in these shares for one year 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 of the stated shareholders in the Extra Ordinary General Assembly decision held on October 13.2012 do not wish to cover the allocated shares or any part of them, the remaining unpaid ones will be unsubscribed shares, subject to (JSC) approval to be covered.
4. Fees must be settled as deemed proper.

On November 14.2012, the Board of Commissioners decided to activate the Via Internet Trading Service of Awraq Investments Company. Currently, there are four companies that are permitted to trade using this method.

They also discussed the Memorandum of Understanding (MOU) between the (JSC) & the Capital Market Authority (CMA) in the Sultanate of Oman. By virtue of the Provisions of Article (12/O) of the Securities Law, it was agreed that the Chairman of the (JSC) shall be authorized to sign the (MOU).