The CEO of the ASE Mr. Jalil Tarif said that (88) companies representing (93%) of the overall companies listed at the First Market submitted their quarterly reports reviewed by their auditors within the time limit of receiving their quarterly reports which ended on Monday 31/10/2011.
By virtue of the ASE (15/B) Listing Directives all companies listed at the First Market must submit their reviewed quarterly reports during the first month that follows the said quarter. Such a step assures the First Market companies' transparency and disclosure in addition to abiding by other strict conditions relating to their financial position, profitability and shares liquidity.
Tarif added that the ASE circulates these reports to the brokerage firms, and posts them on the ASE website www.exchange.jo in circulars and disclosures/quarterly reports window.
On the other hand Mr. Tarif said that a number of companies listed at the First Market did not submit their reviewed reports within the time limit, breaching the provision (15/B) of the Directives of Listing Securities on the ASE, these companies are:
Bank Al Etihad, Arab German Insurance, Jordan Press & Publishing/(Ad-Dustour), Arab Real Estate Development, Amwal Invest, Emar Investments and Real Estate Development, The Investors and Eastern Arab For Industrial and Real Estate Investment.
