Jordan Securities Commission Registers New securities 20/12/2011
20-Dec-2011
On December 19.2011 Jordan Securities Commission (JSC) represented by its Board of Commissioners & chaired by Dr. Bassam Saket, 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 19th issuance of Jordanian treasury bills for the year 2011 at a maturity date on April 30.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
2- Registration of the 20th issuance of Jordanian treasury bills for the year 2011 at a maturity date on May 14.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
3- Registration of the 21st issuance of Jordanian treasury bills for the year 2011 at a maturity date on November 20.2012, at a value of JD (100) million & address the Securities Depository Center (SDC) to register them.
4- Registration of the 41st issuance of Jordanian treasury bonds for the year 2011 at a maturity date on November 3.2015, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
5- Registration of the 42nd issuance of Jordanian treasury bonds for the year 2011 at a maturity date on November 16.2015, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
6- Registration of the 43rd issuance of Jordanian treasury bonds for the year 2011 at a maturity date on November 17.2014, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
7- Registration of the 44th issuance of Jordanian treasury bonds for the year 2011 at a maturity date on November 22.2013, at a value of JD (100) million & address the Securities Depository Center (SDC) to register them.
8- Registration of the 45th issuance of Jordanian treasury bonds for the year 2011 at a maturity date on November 24.2014, at a value of JD (100) million & address the Securities Depository Center (SDC) to register them.
9- Registration of the 54th issuance of Water Authority bonds at a maturity date on November 15.2014, at a value of JD (35.5) million & address the Securities Depository Center (SDC) to register them.
10- Registration of the 10th issuance of National Electricity Company bonds for the year 2011 at a maturity date on November 21.2014, at a value of JD (48.6) million & address the Securities Depository Center (SDC) to register them.
11- Registration of the 22nd issuance of Jordanian treasury bills for the year 2011 at a maturity date on May 27.2012, at a value of JD (81) million & address the Securities Depository Center (SDC) to register them.
12- Registration of the 23rd issuance of Jordanian treasury bills for the year 2011 at a maturity date on May 28.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
13- Registration of capital increase in shares of Societe Generale De Banque (Jordan) of (50) million shares. Offering these shares to a number of the Bank shareholders via non public offer, at the share nominal value of JD (1) or (90%) of the Banks’ share closure price of which is higher on the date of the Board of Commissioners. Allocate these shares to the following shareholders:
Name of Shareholder
Allocation of Increase/Share
Societe Generale De Banque (Lebanon)
46.653.914
Ahmad Ibrahim Khalil Manko
778.492
Al-Hanan for Investments Company
2.128.284
Dorothy Doris Margareta Ericsson
162.213
Zahi Nasha’at Taher Al-Masri
82.188
Adeebah Ahmad Ibrahim Manko
81.106
Aminah Ahmad Ibrahim Manko
81.106
Rabab Ahmad Ibrahim Manko
32.697
Total
JD (50) million shares
The Board of Commissioners decided also to grant the Bank (30) days to fulfill issuance procedures to these shares, commencing from notifying the Bank of the Board of Commissioners decision to register these shares. Shares that were not fulfilled within the above stated period of time will be considered unsubscribed shares subject to (JSC) approval to be covered.
The following terms must be fulfilled:
• It is prohibited to deal in capital increase in shares allocated to the above stated shareholders for one year starting from the date of fulfilling issuance procedures at (JSC).
• If any of the above stated shareholders do not wish to subscribe in the allocated shares or part of these shares, the remaining unpaid one will be unsubscribed shares, subject to (JSC) approval to be covered.
• Fees must be settled as deemed proper.
14- Extend the period of time to fulfill issuance procedures of capital increase in shares of Al-Tajamouat for Touristic Projects Company of (25) million shares for (10) working days commencing from notifying the Company of the Board of Commissioners decision to approve this extension. Shares that were not fulfilled within the above stated period of time will be considered unsubscribed shares subject to (JSC) approval to be covered.
15- Registration of capital increase in shares of Arab Banking Corporation of (10.400.000) million shares by offering these shares to the Banks’ shareholders via public offer, at an issuance price of JD (1) per share. Enforcing the relevant prospectus & settling fees as deemed proper.
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:
• Publish at least twice in two local daily newspapers about the data & information related to the issuance process via non public offer, 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.
• Publish the context of the announcement for offering these shares to subscription to Company shareholders at least twice, in two local daily newspapers. Indicate clearly, the number & date of the Board of Commissioners approval decision to register these shares, prior at least seven days from the specified date to commence subscription.