Reducing the capital of the listed company by one of the capital’s reduction methods: redeeming accumulated losses, issuance discount, return part of the capital to shareholders,  or by redeeming treasury shares, where the ASE  Reduces  the company’s capital  within a maximum period of two working days from the date of completing all capital reduction procedures at the SDC.

Conditions for obtaining service

-Completing the necessary procedures at the JSC and SDC. -A quittance certificate issued by the Administrative and Financial Dept. at the ASE.

Notes

None

Partner institutions:

None

Procedures

1. Suspending the company's shares from trading after receiving the approval of the Ministry of Industry and Trade on capital reduction, however the company which decreases its capital through redeeming its treasury stocks shall not be suspended from trading.

2. Completing the necessary procedures with the JSC and the SDC.

3. Calculating the opening price for the company’s share reducing its capital, excluding companies that decrease their capital by purchasing treasury shares through the market.

4. Determining a day to decrease the company’s capital and resume trading on the company’s shares.

Required Documents

-  The Approval of the Ministry of Industry and Trade on the decrease.

-  The Approval of the Jordan Securities Commission on the decrease accompanied with the following documents:

-  Company's articles of association, memorandum of association after the amendment.

-  Names and number of shares owned by shareholders who own (5%) or more of the company's capital.

-  The names of the members of the Board of Directors, and the names and positions of the top executive management, and the securities owned by any of them or their relatives.

-   The interim financial statements after decreasing  reviewed   by the company's  auditor

Persons benefiting from the service

Listing shareholding companies

Files

No Found Files

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