Jordan Securities Commission Registers New Securities 22/05/2012

On May 22.2012 Jordan Securities Commission (JSC) chaired by the Board’s 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 Sheba Metal Casting Company (Unlisted) of (50) thousand shares, via non public offer to shareholders at a nominal value of JD (1) per share, in condition shareholders are prohibited to deal in subscribed in capital increase in shares & in emerging shares of ownership as at the end of the 15 day of the Board of Commissioners decision to register capital increase, until prohibition period of time is concluded.

2. Registration of capital increase in shares of Investments & Integrated Industries Company (Holding) of (14) million shares at a nominal value of JD (1) per share via non public offer for shareholders, in condition of the following:

A. It is prohibited to deal in these shares for two years from registering them at the (JSC).
B. Shares issuance procedures must be fulfilled at the (JSC) & the Securities Depository Center (SDC) within at least (10) working days from notifying the Company of this decision.
C. Not applying the “Instructions of Dealing with Subscription Rights” on capital increase in shares.

3. Registration of the 14th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on April 17.2015, at a value of JD (75) million & address the (SDC) to register them.
4. Registration of the 15th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on April 22.2014, at a value of JD (50) million & address the (SDC) to register them.
5. Registration of the 16th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on April 24.2014, at a value of JD (50) million & address the (SDC) to register them.
6. Registration of the 17th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 1.2014, at a value of JD (75) million & address the (SDC) to register them.
7. Registration of the 18th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 6.2014, at a value of JD (75) million & address the (SDC) to register them.
8. Registration of the 19th issuance of Jordanian treasury bonds for the year 2012 at a maturity date on May 8.2014, at a value of JD (50) million & address the (SDC) to register them.
9. Registration of the 12th issuance of National Electricity Company bonds, at a maturity date on April 26.2017, at a value of JD (150) million & address the (SDC) to register them.
10.  Registration of capital increase in shares of Irbid District Electricity Company of (2) million shares, via capitalizing JD (2) million from returned earnings. Distributing this increase to shareholders as free shares; each shareholder according to his contribution in the capital. Fees must be settled as deemed proper.
11. Transferring ownership of Shares Buyback “Treasury Stocks” from (Bank Al Etihad Shares Buyback “Treasury Stocks”) account & distributing them as free shares to shareholders according to the decision taken on April 28.2012 by the General Assembly Meeting. This process will take place by the (SDC). Afterwards, shares fractions will be balanced in a separate list & sold in the market. Moreover, prices will be balanced to each shareholder according to his/her percent of ownership.

To regulate the issuance process, its appropriateness & disclosure, the Instructions of Issuance & Registration of Securities for the year 2005 oblige the Company/the Issuer 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 & the (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 the trading of Members of the Board of Directors, the General Manager & the Financial Manager in the below companies, each one of them in his company, whether trading for his own benefit or through non public shareholding companies controlled by anyone of them.

The Board of Commissioners decision was a result for not providing the (JSC) with the 2011 Annual Report & the audited financial statements until this date:

1. Jordan Commercial Bank.
2. Arab German Insurance Company.
3. Taameer Jordan (Holdings) Company.
4. Al Jamil for General Investments Company.
5. Darwish Al-Khalil & Sons Company.
6. Model Restaurants Company.
7. Jordan Petroleum Refinery Company.

The decision will be effective on May 23.2012 & until further notice