The CEO of Amman Stock Exchange, Mr. Jalil Tarif, said that the ASE is still receiving the quarterly reports of the period ending in September 30th, 2009 from the companies listed at the First Market and which have been reviewed by their auditors.
The CEO of Amman Stock Exchange, Mr. Jalil Tarif, said that the ASE is still receiving the quarterly reports of the period ending in September 30th, 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 follows the said quarter. Such a step will 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, post 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 October 29, 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, varying from warning, fines and suspension or de-listing securities issued by them.
It is worth mentioning that several companies have submitted their reviewed quarterly reports and were disseminated through the previously mentioned ways. These companies are Al-Zarqa Educational and Investment, Union Advanced Industries, and Cairo Amman Bank.