Mr. Azar stressed that by the deadline of submitting quarterly reports, the end of October, the ASE will announce the breaching companies which did not submit their reviewed quarterly reports through the mass media so as to protect the investors in Jordan securities market. The ASE further will suspend the shares of the breaching companies as of the first working day following the deadline of receiving the reports until the date of submitting the ASE with the required reports by virtue of Article (13 / B / 11) of the Listing Securities Directives for the year 2016 so as to protect the investors in Jordan securities market. Moreover, the companies that did not comply with the deadline will be subject to the penalties stated by Securities law, Regulations, Directives issued pursuant thereto.
By virtue of the ASE Listing Directives all companies listed at the ASE must submit reviewed quarterly reports reviewed by their auditors within one month of the end of the said quarter.
Mr. Azar clarified that such a step will enhance transparency and disclosure in Jordan capital market, and 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) www.exchange.jo in the Circulars and Disclosures/quarterly reports window to be reachable for those interested in securities.