Approve Registration of New Securities of Falcon for Investments & Financial Services Company 02/10/2011
02-Oct-2011
On September 29.2011 Jordan Securities Commission (JSC) Board of Commissioners, decided to approve new securities registration of Falcon for Investments & Financial Services Company. Provisions of Article (5) of the Securities Law No. 76 for the year 2002 stipulate 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:
Registration of capital increase in shares of Falcon for Investments & Financial Services Company of (7.550.000) million shares at a nominal value of JD (1) per share or (90%) of the share market price of which is higher on the approval date of the Board of Commissioners. Allocating these shares & ratios to the following Strategic Partners:
• Thel Al-Urdon for General Trading Limited Liability Company (500.000) thousand shares.
• Al-Zawaya Al-Arba’ah for Financial & Real Estate Investments Limited Liability Company (6.300.000) million shares.
• Jordan Masaken for Land & Industrial Development Projects Public Shareholding Company (750.000) thousand shares.
The following terms must be fulfilled:
• It is prohibited to deal in these shares for two years starting from the date of fulfilling issuance procedures at the (JSC).
• Shares issuance procedures must be fulfilled within (10) working days from notifying the Company of the Board of Commissioners decision.
• Prior disclosure of any dealings between the Strategic Partners & Falcon for Investments & Financial Services Company.
• As approved by the Board of Commissioners decision number 28/2011, comply with distributing the allocations of the capital increase & prior disclosure of any benefit from the issuance outcome.
• Fees must be settled as deemed proper.
• Submit a disclosure report mainly including the following:
1. Brief of the Company extraordinary general meeting including the approval of the capital increase, method of covering the increase, relevant Board of Directors decisions & the Company request.
2. Approval of the Minister of Industry & Commerce on the decision of the extraordinary general meeting & a letter from the Company Controller regarding fulfilling the procedures of capital increase.
3. Written text of the Board of Commissioners approval to register capital increase in shares.
4. Clarification of the purpose of the capital increase & means to benefit from the issuance outcome.
Declaration from the Company Board of Directors stating that the information in the disclosure report is correct & accurate, that this report includes all material facts that may affect shares prices & trading volumes as well, their liabilities.
To regulate the issuance process, its appropriateness & disclosure, the Instructions of Issuance & Registration of Securities for the Year 2005 oblige the Company/the Issuer with the following: “the Issuer shall publish at least twice in two local daily newspapers about the data & information related to the issuance process, including the issuance value & the parties to which that issuance is allotted”. The approval number & date of the Board of Commissioners decision to register these shares must be indicated clearly & the (JSC) must be notified.
Dated: October 2.2011.