The CEO of the ASE Mr. Jalil Tarif said that (105) companies representing (94%) 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 ended on Sunday 31/10/2010.
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 post them on the ASE website (Arabic Version) 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:
The Arab Assurers, Beit Al-Mal Saving and Investment for Housing, United Arab Investors, Al-Faris National Company for Investment &Export, Rum Alaaddin Industries and Middle East Complex for Eng, Electronics and Heavy Industries. Furthermore, Capital Bank of Jordan submitted it's un-reviewed quarterly report after the time limit.