Jordan Securities Commission Registers New Securities 27/06/2012
27-Jun-2012
On June 26.2012 Jordan Securities Commission (JSC) chaired by the Board of Commissioners 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 Al-Bilad Medical Services Company ‘Istiklal Hospital’ of (1.400.000) million shares via capitalizing JD (1.400.000) million of returned earnings. Distributing this increase to shareholders as free shares; each shareholder according to his contribution in the capital, in condition fees are settled as deemed proper.
2. Registration of capital increase in shares of Winter Valley for Public Investments Company of (4.411.765) million shares. Enforcing the relevant prospectus for offering these shares to subscription via public offer to the Company shareholders at a nominal value of JD (1) per share & an issuance discount of Files (320), in condition fees are settled as deemed proper.
Instructions of Issuance & Registration of Securities for the year 2005 oblige companies having the approval to register capital increase in shares to the following:
• 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 at least seven days from the specified date to commence subscription or trading in Subscription Rights (if applicable).
• Issue a public declaration of registering capital increase in shares. The approval number & date of the Board of Commissioners decision must be indicated clearly.