The Chief Executive Officer (CEO) of the Amman Stock Exchange (ASE) Mr. Nader Azar, said that the ASE is still receiving the quarterly reports of the period ended in September 30, 2015, from all companies listed at the ASE which have been reviewed by their auditors.
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 reports through the mass media. He also added that the ASE will suspend the shares of the breaching companies for one trading session as of the first working day following the end of the dead line for receiving the quarterly reports in accordance with the disciplinary policy approved by ASE Board of directors on 29.6.2015 based on the provisions of Article (27) of ASE Listing Directives, 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 for the year 2012 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.