JSC Covers Unsubscribed Capital Increase in Shares of Societe Generale De Banque Jordan 14/06/2012

On June 13.2012 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, approved the request of Societe Generale De Banque Jordan to the following:

1. Capitalize JD (3.567.345) million of returned earnings & distribute it as free shares to shareholders, each shareholder according to his contribution in the capital at a price of JD (1) per share.
2. Cover (46.432.655) million shares to a number of the following Bank shareholders via non public offer, at the share nominal value of JD (1) & an issuance discount of Files (0.13) per share or at (90)% of the Banks’ share closure price of which is higher on the 15th day of the Board of Commissioners approval to distribute (3.567.345) million shares as free ones:

Name of Shareholder Allocation of Covered Increase/Share
Societe Generale De Banque (Lebanon) 41.926.473
Ahmad Ibrahim Khalil Manko 1.189.343
Al-Hanan for Investments Company 2.909.026
Dorothy Doris Margareta Ericsson 301.165
Zahi Nasha’at Taher Al-Masri 76.295
Rabab Ahmad Ibrahim Manko 30.353
Total (46.432.655) shares
3. The Board of Commissioners decided to grant the Bank (30) days commencing from notifying the Bank of the Boards’ decision to cover unsubscribed shares to fulfill issuance procedures of these (50) million shares, in condition the following terms are fulfilled:

• It is prohibited to deal in capital increase in shares of (46.432.655) million 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 them, the remaining unpaid ones will be unsubscribed shares, subject to (JSC) approval to be covered.

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 cover these shares must be indicated clearly.
• Issue & distribute free shares on registered shareholders in the company records as they are on the 15th day of (JSC) approval to cover these shares i.e. June 27.2012.