Jordan Securities Commission Registers New Securities on March 16.2011

On March 15.2011 Jordan Securities Commission (JSC) represented by its Board of Commissioners & chaired by Dr. Bassam Saket, decided to approve new securities registration. 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:
1. Approve the registration of the 3rd issuance of Jordanian Treasury bills for the year 2011 at a maturity date on February 17.2011, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
2. Approve the registration of the 5th issuance of Jordanian Treasury bills for the year 2011 at a maturity date on February 28.2012, at a value of JD (100) million & address the Securities Depository Center (SDC) to register them.
3. Approve the registration of the 8th issuance of Jordanian Treasury bonds for the year 2011 at a maturity date on February 20.2013, at a value of JD (75) million & address the Securities Depository Center (SDC) to register them.
4. Approve the registration of the 4th issuance of National Electricity Company bonds at a maturity date on February 22.2014, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
5. Approve the registration of the 9th issuance of Jordanian Treasury bonds for the year 2011 at a maturity date on February 27.2013, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
6. Approve the registration of the 4th issuance of Jordanian Treasury bills for the year 2011 at a maturity date on August 23.2011, at a value of JD (100) million & address the Securities Depository Center (SDC) to register them.
7. Approve registration of capital increase in shares of Al-Tajamout for Touristic Projects of (4) million shares by capitalizing JD (4) million from issuance premium & distributing them as free shares to shareholders; each shareholder according to his contribution in the capital, as by the end of March 29.2011; the 15th day of JSC approval on this increase.
8. Approve the coverage of unsubscribed increase in shares of Jordan Poultry Processing & Marketing of (12.440.000) shares by allocating these to Hamodeh Brothers for Trade & Investment Company at a nominal value of JD (1) per share, at an issuance discount of (400) fils or (90%) of the share market price of which is higher on the date of the Board of Commissioners approval.
The Board approved to accredit the following new natural persons to undertake financial services businesses by virtue of the provisions of Articles (47) & (48) of the Securities Law No. 76 for the year 2002 & of the Instructions of Financial Services Licensing & Registration for the year 2005. These Instructions oblige these persons to have a license from the (JSC) to undertake such services:
Number                   Name                                            Type of Accreditation                                 Company
1                   Randa Abed Al-Hadi Al-Harbawi                Financial Broker                      Bankers for Brokerage & Financial Investments
 
The above stated Instructions stipulate that licensee should pay the (JSC) the required fees. (JSC) also stipulates a number of terms that must be fulfilled by the applicant, to be granted an accreditation for a natural person, mainly the following:
• Be competent, of good reputation & manners.
• Holder of a Bachelor Degree.
• Successfully pass examinations held by the (JSC).
• Participated in courses approved by the (JSC) for acquiring the required registration.