Jordan Securities Commission Covers Unsubscribed Capital Increase in Shares of Jordan Clothing Company on 18/07/2012
18-Jul-2012
On July 17.2012 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 to cover unsubscribed capital increase in shares of Jordan Clothing Company of (200.269) thousand shares at the share nominal value of JD (1) per share or at an issuance price of not less than (90%) of the share market value of which is higher on the approval date of the Board of Commissioners. Allocate these shares to Messrs. of Jordan Engineers Association/Social Insurance Fund. Shares issuance procedures must be fulfilled within at least (10) working days from notifying the Company of the Board of Commissioners decision.
The 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 at least twice in two local daily newspapers the data & information of the issuance process, including the covering 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.