Jordan Securities Commission Registers New Securities 20/05/2012

On May 16.2012 Jordan Securities Commission (JSC) chaired by the Board’s Chairman Mr. Mohammad Tash & the membership of the following Commissioners: Deputy Chairman Dr Ahmad Mustafa, Mrs. Muna Al-Mufti & Mr. Majd Shafiq, decided to approve registration of capital increase in shares of Arab Assurers Company of (2.5) million shares at an issuance price of JD (0.40) per share or (90%) of the share closing market price of which is higher on the approval date of the Board of Commissioners, via capitalizing accounts payables (subordinated to the capital) amounting JD (751.661) thousand & covering JD (248.339) thousand by allocating these shares to shareholders stated in the Company Letter No. 1550/2012 dated April 30.2012.

The following terms must be fulfilled:

1. It is prohibited to deal in capital increase in shares for two years starting from the date of fulfilling issuance procedures at (JSC).
2. Shares issuance procedures must be fulfilled within at least (10) working days from notifying the Company of the Board of Commissioners decision.
3. Fees must be settled 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 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.