96% of Listed Companies Submitted their Quarterly Reports within the Deadline for the Third Quarter of 2020
Mr. Mazen Wathaifi the Chief Executive Officer of Amman Stock Exchange (ASE) said that 96% out of 180 listed companies have provided the ASE with their reviewed quarterly reports for the period ended 30/09/2020 within the specified period in the Directives of Listing Securities. This high percentage reflects the compliance of listed companies with the laws and regulations, and the commitment of such companies to the principles of transparency and disclosure.
Wathaifi added that all companies listed on the ASE should submit to the ASE their reviewed interim reports within the specified period, according to the Directives for Listing Securities on the ASE.
Wathaifi confirmed that the ASE circulates these financial statements to the brokerage firms, and post them on the ASE website www.exchange.jo under Circulars and Disclosures/ Quarterly reports window, and by the "ASE NEWS" application.
Wathaifi added that companies namely THE ARAB ASSURERS INSURANCE COMPANY, AFAQ HOLDING FOR INVESTMENT & REAL ESTATE DEVELOPMENT COMPANY and ALENTKAEYA FOR INVESTMENT&REALESTATE DEVELOPMENT COMPANY; have failed to provide the ASE with their reviewed interim reports for the period ended on 30/9/2020 during the specified period. Accordingly, the ASE suspended their shares from trading as of Sunday 1/11/2020. The companies will remain suspended until they provide the ASE with the required financial statements.
The ASE also continues suspending the trading in shares of JORDAN PRESS FOUNDATION/AL-RA'I COMPANY, JORDAN PROJECTS FOR TOURISM DEVELOPMENT COMPANY, Jordanian CO. For Developing & Financial Investment COMPANY, TRAVERTINE COMPANY and PHILADELPHIA INSURANCE COMPANY, for failing to provide the ASE with their previous financial statements, in addition to the interim financial statements for the period ended 30/9/2020, noting that the shares of these companies shall continue to be available for trading in the Unlisted Securities Market (OTC).