The CEO of Amman Stock Exchange, Mr. Jalil Tarif, said that the ASE is still receiving the quarterly reports of the period ending on March 31st , 2009 from the companies listed at the First Market and which have been reviewed by their auditors.
By virtue of the ASE Listing Directives for the year 2004 all companies listed at the First Market must submit reviewed quarterly reports during the first month that follows the said quarter. Tarif said that such a step would enhance transparency and disclosure in Jordan capital market. This also helps investors in being acquainted with the companies' results during the whole fiscal year.
The ASE circulates these reports to the brokerage firms, and posts them on ASE boards and on the ASE website (Arabic version) 194.165.154.66 in the Circulars and Disclosures/quarterly reports window.
Mr. Tarif added that by the deadline of submitting quarterly reports, the end of working day of Thursday April 30, 2009, the ASE will announce the breaching companies which did not submit their reviewed reports through the mass media so as to protect the investors in Jordan securities market. Moreover, the Securities Law, Regulations and Directives impose penalties on the breaching companies.
It is worth mentioning that several companies have submitted their reviewed quarterly reports and were disseminated through the previously mentioned ways. These companies are Union Advanced Industries, Al-Zarqa Educational and Investment, and Al-Amin For Investment.