Market Closed Date 24/08/2017
2014

 

 

December

Performance of the Amman Stock Exchange, 2014

The Chief Executive Officer (CEO) of the Amman Stock Exchange (ASE), Mr. Nader Azar, said that the ASE achieved a positive performance during 2014 despite the surrounding political circumstances in Jordan within the Arab region and the continuous political tension in some region countries and its effects on the Jordanian economy.  The ASE price index weighted by free float shares increased to reach (2165.5) point at the end of 2014 compared with (2065.8) point by the end of 2013; an increase by (4.82%). The market capitalization of listed shares at the ASE decreased slightly to JD (18.1) billion; a decrease of (0.8%), compared with last year 2013 closing, constituting (75.8%) of the GDP.

Mr. Azar added that despite the improvement in the ASE index, the other trading indicators witnessed a decrease in its performance during 2014. The trading value for the ASE during 2014 reached JD (2.3) billion compared with JD (3.0) billion for the year 2013. The number of traded shares reached (2.3) billion shares, traded through (956) thousand transactions, compared with (2.7) billion shares traded during 2013 through (1074) thousand transactions.

It is worth mentioning that the December of 2014 witnessed an improvement in the trading value for the ASE where the average daily trading value for December of 2014 reached JD (12.3) million compared with JD (10.5) million for December 2013.

As for the performance of the public shareholding companies for the first three-quarters of the year 2014, the financial data for the 218 companies that provided the ASE with its quarterly reports revealed that profits before taxes of these companies have been risen to around JD (1.2) billion for the period (Jan-Sept 2014) compared with JD (1.1) billion for the same period of 2013 and an increase of (7.9%)

As for the non-Jordanian investment at the ASE, which is distributed to more than one hundred nationality around the world, the statistics showed that the value of shares bought by non-Jordanian investors during the period (Jan-Nov 2014) reached JD (318.2) million constituting (16%) of the total trading value, while the value of shares sold by them for the same period was JD (344) million, so as the net non-Jordanian investment has declined by JD (25.8) million, compared with a decrease by JD (135) million for the same period of 2013

Accordingly, Non-Jordanian ownership in companies listed at the ASE at the end of November 2014 becomes around (48.9%) of the overall market capitalization, where Arab investors constituting (36.2%), and non-Arab investors constituting (12.7%) of the overall market capitalization of the ASE.

Amendments on the trading rules and trading session phases and hours of ASE

The Amman Stock Exchange (ASE) will start applying as of 4th of January, 2015 a number of amendments to the trading rules and trading session phases and hours by virtue of the ASE Board of Directors resolution, which was taken in light of the feedback and observations of the capital market institutions, the ASE members and securities dealers. As well as the ASE's policy of preserving the safety of securities trading and safeguarding an equal treatment of those dealing in securities and to ensure optimal use of trading rules.

The amendments include:-

  • Cancelation of the Open Price Order.
  • Prohibit entering Buy (Sell) orders at a price exceeds the maximum (minimum) threshold of the security.
  • Cancelation of the Pre-Closing and Trading at Last Phases
  • Any unexecuted orders that remain in the order book are considered expired after the end of the last trading session in each year.
  • Decrease the minimum amount required for block trades to become JD 200,000 instead of JD 500,000.
  • Adjust the time of the trading session phases as follows:

Phase

Third Market & the Right Issues of the 3rd Market's stocks

First & Second Markets, the right issues of the 1st & 2nd Markets' stocks and Bonds.

Beginning of Day Inquiries

08:30 - 09:45

08:30 - 10:00

Pre-Opening

09:45 - ±09:50

10:00 - ±10:30

Opening

±09:50

±10:30

Continuous Trading

±09:50 - 10:15

±10:30 - 12:30

Block Trades

12:30 - 12:45

12:30 - 12:45

The ASE board of directors approved a general policy to measure marking the close price practices and to impose the appropriate sanctions. Taking into consideration the judgment of the market surveillance, the trade or series of trades shall be considered a manipulation of the closing price in case:-

1.       The execution occurred at the last minute and/or parts of the minute before of the continuous trading phase.

2.       A price variation (up or down) of 2% or more from the preceding price.

3.       The price deviates from the price normal behavior during the trading session.

4.       The trading value is less than 5% of the overall trading value for the related security in that day, or JD 3000 whichever is more.

The ASE will impose penalties and fines on brokerage companies affecting closing prices in accordance with the general policy stipulated by the ASE board of directors staring by warning and then imposing fines and ending with legal proceedings. In case that any Internet Trading client affect the closing price of the security, the ASE will advise the brokerage firm to take the necessary actions to prevent its client from repeating such practice or the company will be penalized.

The ASE index Quarterly review

Mr. Nader Azar the CEO of the Amman Stock Exchange (ASE) said that the ASE has conducted its periodic quarterly review of the ASE index constituents in purpose of ensuring that the ASE General Price Index reflects the market performance and the trading activity of the listed companies. By this rebalancing, the activity of listed companies in regard to trading during the last quarter has been reviewed. After that, the ASE has conducted its screening process for all listed companies using the full market capitalization of the companies and the number of trading days during last quarter. It is worth mentioning that the criteria adopted by the ASE are similar to the international practices applied in this field. These criteria are applied in a number of leading international index providers such as the S&P Dow Jones.

Mr. Azar added that as a result of this review, seven companies have been deleted from the index sample and other seven companies have been added. As part of the rebalancing, the ASE calculated the free float shares for all listed companies at the ASE based on the data available at the Securities Depository Center (SDC) website.  This review also includes the reduction of the weights for some companies to maintain the 10% cap that applied to index constitutes.

Mr. Azar clarified that the index sample includes one hundred companies which are the most active in the ASE and the highest in terms of market capitalization. The full market capitalization of the index constituents' represent (91%) of the total market capitalization of the companies listed at the ASE. The free float market capitalization of the index constitutes' represents (88%) of the total free float market capitalization of the listed companies at the ASE.

In light of the above, the index constituents will be modified starting on the 4th, January 2015. Interested parties can access to the constituents of the index with the new weights through the following link:

http://www.exchange.jo/en/constituents

The Organization of Islamic Cooperation Meeting

The Amman Stock Exchange (ASE), represented by Mr. Mohammad Shnewer, the Head of Operation & Data Dissemination Division participated in the 8th   Meeting of the Organization of Islamic Cooperation (OIC) which was held in Istanbul- Turkey, on November 11, 2014. This meeting was attended by Fourteen Stock Exchanges and three clearing and settlement institutions, the Coordination of the Standing Committee for Economic Commercial Cooperation of the Organization of Islamic Cooperation Office, the Islamic Bank for Development, and the center of global Islamic finance development at the World Bank.

This meeting was held in conjunction with the Third International Conference on Islamic Economics, which was organized by the University of Marmara with cooperation of the Istanbul Stock Exchange, where the ASE participated in the opening ceremony and the first session, which included a number of diverse topics related to economics and Islamic finance. On the sidelines of the meeting,   an agreement of understanding (MOU) was signed between the Qatar financial Markets Authority and the Capital Markets Board- Turky.

Student's Delegation Visits the ASE

Amman Stock Exchange (ASE) received student's delegation from the University of Jordan - Islamic Finance and Banking Department / Faculty of Sharia  and  from Yarmouk University / Economics and Administrative Science Faculties and From  Hittien College.  The ASE briefed the delegation on the latest legislative and technical developments of the Jordan capital market at the legislative and technical level. Also, the ASE presented a live trading session and an explanation of the main features of the applied electronic trading system at the ASE.

 

November

  ASE Participates in the Annual Meeting of the FEAS

 The Cheif Executive Officer (CEO) of Amman Stock Exchange (ASE), Mr. Nader Azar,    participated in the meetings of the Working Committee and Executive Committee for the Federation of Euro-Asian Stock Exchanges (FEAS) which was held in Zagreb/ Croatia during the period from 19-20 November 2014.

During the meeting several  important issues were discussed such as the adoption of the draft agenda, the revenues and expenses reports and the audit report for the year 2013. Moreover, they overviewed the draft budget for the year 2015 as well as they approved the bilateral exchange visit program between the federation members. Furthermore, Egyption Exchange was elected as the chairman of the Federation, and Bulgaria Stock Exchange as Vice Chairman.

The Federation of Euro-Asian Stock Exchanges (FEAS) was established in May 1995; as a regional organization aimed at strengthening cooperation between the European and Asian stock exchanges, with 34 members representing Stock Exchanges and Depository Centers and  brokerage firms associations in 30 countries in Europe and Asia.

An Iraqi   Delegation visits Jordan Capital Market Institutions

The CEO of the ASE, Mr. Nader Azar, received a Delegation from Iraq Securities Commissions represented by the Chairman of Iraq Securities Commission Dr. Abdul Razzak Al Sa'di. Mr. Azar briefed the delegation about the latest legislative, technical and quantitative developments witnessed by the ASE in recent years and the current challenges facing the securities industry and its role in providing a stable and safe environment with respect to the openness of the national economy to foreign investment.  This visit comes within the framework of cooperation between the capital market institutions in both countries   which aims at exchanging experiences between both countries.

A Lecture at The Community Ecumenical Centre/ Al-Khaimeh

The CEO of the ASE, Mr. Nader Azar, presented a lecture at the Community Ecumenical Centre/ Al-Khaimeh affiliate of the Lutheran Church entitled "Recent Developments at the ASE". During the lecture, Mr. Azar focused on the latest technical and legislative developments at the ASE and revealed the basic topics relevant to the Jordanian Capital Market and trading in securities. At the end of the lecture Q&A were answered.

Amman Stock Exchange (ASE) Receives  Student Delegation

Amman Stock Exchange (ASE) received a student delegation from Al-Fareed Model Schools. The ASE briefed the delegation about its work , its investments basics and the technical and legislative developments witnessed by Jordan capital market. They also visited the Investor's Gallery in the housing Bank Complex and toured a number of brokerage firms.

 

October

The Appointment of Mr. Azar as CEO of the ASE

Amman Stock Exchange'  Board of Directors decided on its meeting -held on Wednesday, 22/10/2014  appointing Mr. Nader Azar,  as Chief Executive Officer( CEO) of the ASE as of 29.10.2014.

It is worth mentioning  that Mr. Azar has held many  leading and administrative  positions  at Amman Financial Market and Amman Stock Exchange  was most recently vice CEO of the ASE during the years 2004 -2012 and as an acting CEO of the ASE since 2012 till his appointment as CEO.  

The Companies' Third Quarter Reports for the year 2014

The CEO of the ASE, Mr. Nader Azar, said that according to the listing securities Directives for the year 2012; all companies listed at the ASE should submit their quarterly reports reviewed by their auditors within one month of the end of the mentioned quarter. Mr. Azar added that the number of companies which submitted their reviewed quarterly reports reached (203) companies representing (86%) of the overall companies within the time limit of submitting their quarterly reports ended on Thursday 30/10/2014.

Mr. Azar stressed that the ASE circulates these reports to the brokerage firms, and post them on the ASE websitewww.exchange.jo (Arabic Version) in circulars and disclosures/quarterly reports window.

On the other hand, Mr. Azar said that a number of listed companies - mentioned below- did not submit their reviewed quarterly reports within the time limit, breaching the provisions of Article (17) of Listing Directives at the ASE, where Jordan Ahli Bank and Philadelphia Insurance Company submitted the ASE with their un-reviewed quarterly reports within the time limits while Darkom Investment, Jordan Chemical Industries, International Cards Company and International Brokerage & Financial Markets submitted the ASE with their reviewed quarterly reports after the time limit.

It is worth mentioning that companies that didn't provide the ASE with the required data within the dead line will be subject to the penalties stated by Listing Securities Directives.

 

Symbol

Code

Company Name

.No

JCBK

111003

JORDAN COMMERCIAL BANK

1

INVB

111014

INVEST BANK

2

JEIC

121015

JORDAN EMIRATES INSURANCE COMPANY P.S.C

3

JOPP

131030

(JORDAN PRESS & PUBLISHING/(AD-DUSTOUR

4

TRTR

131055

TRUST INTERNATIONAL TRANSPORT

5

ABLA

131064

AL AHLIA ENTERPRISES

6

UAIC

131079

UNITED ARAB INVESTORS

7

ARED

131092

ARAB REAL ESTATE DEVELOPMENT

8

RJAL

131213

ALIA- THE ROYAL JORDANIAN AIRLINES PLC

9

IEAI

131217

THE INVESTORS AND EASTERN ARAB FOR INDUSTRIAL AND REALESTSTE INVESTMENTS

10

BIND

131219

BINDAR TRADING & INVETMENT CO PLC

11

DKHS

131223

DARWISH AL-KHALILI & SONS

12

INVH

131226

INVESTMENT HOUSE FOR FINANCIAL SERVICES

13

AMWL

131227

AMWAL INVEST

14

AWTD

131244

AWTAD FOR DIVERSIFIED INVESTMENTS PLC

15

JMIL

131254

AL JAMIL FOR INVESTMENTS CO

16

DERA

131255

DEERA INVESTMENT & REAL ESTATE DEVELOPMENT CO

17

FOOD

131272

MODEL RESTAURANTS COMPANY P.L.C

18

UGHI

131280

UNITED GROUP HOLDINGS COMPANY PLC

19

AMON

131285

AMOUN INTERNATIONAL FOR INVESTMENTS

20

TRUK

131290

UBOUR LOGISTIC SERVICES PLC

21

NAST

141011

NATIONAL STEEL INDUSTRY

22

DADI

141012

DAR AL DAWA DEVELOPMENT & INVESTMENT

23

JOPH

141018

JORDAN PHOSPHATE MINES

24

AJFM

141024

AL-JANUOB FILTERS MANUFACTURING

25

ICER

141078

INTERNATIONAL CERAMIC INDUSTRIES

26

NDAR

141094

NUTRI DAR

27

FNVO

141205

FIRST NATIONAL VEGETABLE OIL INDUSTRIES CO

28

The ASE Participates in the 54th General Assembly of WFE

The Amman Stock Exchange (ASE) represented by Mr. Nader Azar, the CEO of the ASE participated in the 54th General Assembly and the Annual meetings of the World Federation of Exchanges (WFE) which was held in Seoul / Korea during October 27-29, 2014. The meetings were attended by chairmen and chief executives of 60 world's leading exchanges; during the Assembly, they elected Juan Pablo Cordoba, the CEO of Bolsa de Valores de Colombia as a new Chairman for the WFE; Ravi Narain, the Vice Chairman of the National Stock Exchange of India as a vice chairman; and Dr. Urs Ruegesegger, the Chairman of Six Swiss Exchange as the Chairman of the Working Committee. The new Board officers serve two - year terms. The WFE General Assembly also approved the membership of BATS Global Markets, Bahrain Bourse, Euronext and The Nigerian Stock Exchange. Together with these new members, WFE membership includes 64 regulated exchanges.

During the Assembly, the ASE joint the Global Cyber Security Committee which is emerged from the General Assembly meetings of the WFE consisting of 15 members of global exchanges. This Committee aims at protecting the global capital markets throughout establishing a communication framework among participants based on mutual trust, facilitating information sharing and enhancing dialogue with policy makers, regulators and government organizations for fair, transparent and efficient markets.

At the end of the Assembly, they approved the 2015 budget proposal for WFE and agreed that the next General Assembly and Annual Meeting will be hosted by the Borse Istanbul in October, 2015.

ASE Receives Student Delegations

Amman Stock Exchange (ASE) received student s from the University of Jordan - Islamic Finance and Banking Depatrment  / Faculty of Sharia  and from Islamic Eductional College, where Awareness & Public Relations Department presented an explanation of the nature of the work of the ASE, its basics investment, and other legislative and technical developments witnessed by the Jordanian capital market.

 

September

The ASE index Quarterly review

Mr. Nader Azar the Acting CEO of the Amman Stock Exchange (ASE) said that the ASE has conducted its periodic quarterly review of the ASE index constituents in purpose of ensuring that the ASE General Price Index reflects the market performance and the trading activity of the listed companies. By this rebalancing, the activity of listed companies in regard to trading during the last quarter has been reviewed. After that, the ASE has conducted its screening process for all listed companies using the full market capitalization of the companies and the number of trading days during last quarter. It is worth mentioning that the criteria adopted by the ASE are similar to the international practices applied in this field. These criteria are applied in a number of leading international index providers such as the S&P Dow Jones.

Mr. Azar added that as a result of this review, seven companies have been deleted from the index sample and other seven companies have been added. As part of the rebalancing, the ASE calculated the free float shares for all listed companies at the ASE based on the data available at the Securities Depository Center (SDC) website.  This review also includes the reduction of the weights for some companies to maintain the 10% cap that applied to index constitutes.

Mr. Azar clarified that the index sample includes one hundred companies which are the most active in the ASE and the highest in terms of market capitalization. The full market capitalization of index constituents' represents (91%) of the total market capitalization of the companies listed at the ASE. The free float market capitalization of the index constitutes' represents (88%) of the total free float market capitalization of the listed companies at the ASE.

In light of the above, the index constituents will be modified starting the first of October 2014. Interested parties can access to the constituents of the index with the new weights through the following link:

http://www.exchange.jo/en/constituents

 

August

Modification the Trading Directives

The Acting Chief Executive Officer (CEO) of Amman Stock Exchange (ASE) Mr. Nader Azar said that the ASE has modified articles (7, 9 and 10) of the Trading Directives of securities at the ASE concerning the affecting on shares prices, receiving authorization and entering orders after the approval of the Board of Commissioners of the Jordan Securities Commission (JSC).

Mr. Azar added that the ASE is continuously reviewing the Directives regulating all aspects of work at the ASE and adjusting it to suit any developments that may arise in the Jordanian capital market.

The modified directives can be found through the ASE website www.exchange.jo on Legislations and Regulations link /Trading Directives

July

Project of Updating the Electronic Trading System

Amman Stock Exchange (ASE) represented by Mr. Marwan Al-Bataineh, the Chairman of the Board, Mr. Nader Azar, the Acting CEO and Eng. Adel Abu Assaf, the Head of Information and Communication Technology Department participated in the UTP-Hybrid Launch Workshop, held in Paris / France during 16 -17 June, 2014. The Workshop was attended by the ASE and Muscat Securities Market, Beirut Stock Exchange and Bourse De Tunis. During the workshop all the details related to the project such as signing final contracts, and discussing practical procedures to develop the new system were discussed.

In addition to that the project of updating the current electronic trading system to the new system (UTP-Hybrid) is a joint project of four stock exchanges mentioned above, the new system provides many technical and functional features regarding trading in securities such as stocks and bonds which are currently traded. This system also enables to trade new financial instruments such as derivatives and futures; note that it is expected to complete the project by the first half of 2017. 

The Annual Meeting of Arab Federation of Exchanges (AFE)

Amman Stock Exchange( ASE), represented by Mr. Nader Azar the Acting CEO of the ASE participated at meetings of Arab Federation of Exchanges (AFE); Executive committee meeting,  the federation Council and the General Commission  of the AFE in its thirty-nine session, which was held in Dubai/ United Arab of Emirates. The meetings were initiated by Mr. Mohammad Bisho the former Chairman of the AFE, and in the presence of the Secretary General of the federation, Dr. Fadi Khalaf. 

They  approved the meeting which was held in Tunis in  May 2013, and they listened to the report of the Chairman of the Executive Committee in addition to a presentation for the Federation new website. Moreover, they approved the recommendation of the Executive Committee of the federation regarding the data and the reports for the fiscal year 2013 as well as the discharge of the General Secretariat for the fiscal year 2013. In addition, they confirmed the recommendation of the Executive Committee regarding the estimated budget and the appointment of the auditor of the Union for the year 2014. They also approved for the presidential transition of the federation to Saudi Financial Market (Tadawul). These meetings witnessed a wide participation from the Stock Exchanges, the Securities Commissions, Depository Centers and brokerage firms in most Arab countries.

The ASE participated as a member of the Executive Committee of the AFE, represented by Mr. Azar in the Fourth meeting held by the Executive Committee in the presence of all members constituting (5) members representing the overall (18) Arab stock Exchanges. During the meeting, they approbated the previous meeting of the Executive Committee, which was held in Morocco in October, 2013. The audited budget of the Federation for the fiscal year 2013 was accepted. It was also suggested for appointing an external auditor of the Federation for the year 2014. The financial situation of the Federation for the first quarter of 2014 was overseen and the preparations for the annual conference of the federation for 2014 were discussed to be held in Kingdom of Saudi Arabia.

The ASE index Quarterly review

In purpose of ensuring that the Amman Stock Exchange (ASE) General Price Index reflects the market performance and the trading activity of the listed companies, Mr. Nader Azar the Acting CEO of the ASE said that the ASE has conducted its periodic quarterly review of the ASE index constituents. By this rebalancing, the activity of listed companies in regard to trading during the last quarter has been reviewed. After that, the ASE has conducted its screening process for all listed companies using the full market capitalization of the companies and the number of trading days during last quarter. It is worth mentioning that these criteria adopted by the ASE are similar to the international practices applied in this field. These criteria are applied in a number of leading international index providers such as the S&P Dow Jones.

Mr. Azar added that as a result of this review, eleven companies have been deleted from the index sample and other eleven companies have been added. As part of the rebalancing, the ASE calculated the free float shares for all listed companies at the ASE based on the data available at the Securities Depository Center (SDC) website.  This review also includes the reduction of the weights for some companies to maintain the 10% cap that applied to index constitutes.

Mr. Azar clarified that the index sample includes one hundred companies which are the most active in the ASE and the highest in terms of market capitalization. The full market capitalization of index constituents' represents (91.4%) of the total market capitalization of the companies listed at the ASE. The free float market capitalization of the index constitutes' represents (87.5%) of the total free float market capitalization of the listed companies at the ASE.

In light of the above, the index constituents will be modified since the first of July 2014.  Interested parties can access to the constituents of the index with the new weights through the following link:

http://www.exchange.jo/en/constituents

June

A Delegation from Khartoum Stock Exchange (KSE) Visits the ASE

The Amman Stock Exchange (ASE) received a delegation from Khartoum Stock Exchange (KSE) where the delegation was briefed on the operations of the ASE's various departments and the applied Electronic Trading System. The delegation also visited Investors' Gallery and the Securities Depositary Centre (SDC) and toured a number of brokerage firms. This visit comes within the framework of cooperation and joint work between the ASE and KSE which aims at exchanging experiences.

Students' Delegations Visits the ASE 

The Amman Stock Exchange (ASE) received a students' delegation from Ajloun National University / Islamic Banking and Banking & Financial Sciences Departments; Al-Balqa' Applied University / Zarqa University College and German Jordanian University / School of Management and Logistic Science. Mr. Mohammad Shneawer, the Head of Operations and Information Dissemination at Listing and Operations Department, presented a live trading session and an explanation of the main features of the applied electronic trading system at the ASE. At the end of lectures, the questions related to the Jordanian Capital Market were answered.

May

The ASE Participates in The Arab Banking Conference for 2014

The ASE represented by the Acting CEO of the ASE, Mr. Nader Azar, participated in the Arab Banking Conference 2014 entitled "Strategies for the Development of Arab Economies " held by the Union of Arab Banks and the Central Bank of Jordan in conjunction with the Association of Banks in Jordan and the World Union of Arab Bankers during the period from 16-17 / 4/2014.

Mr. Azar has participated in the session on: "The role of financial markets in the revitalization the economy" chaired by H.E. Mr. Mohammad S. Al-Hourani, the Chairman of Jordan Securities Commission (JSC) and with the participation of Dr. Fadi Khalaf, the Secretary-General of the Union of Arab Stock Exchanges.

Mr. Azar assured that the year 2014 considered as  the year of coherence for the Jordanian capital market, which is reinforced by the indicators emerging since the beginning of the year. Mr. Azar also indicated that the ASE index raised about 7.5 % from the beginning of this year, and witnessed progressive improvement since 2013, despite the economic challenges in Jordan. Mr. Azar added that it is expected of the ASE keeping pace with the improvement witnessed by the Arab stock markets this year and next year, "to be a start of a new phase for the ASE."

Mr. Azar has pointed out the importance of the role of financial markets in the revitalization of the economy; as it plays an important role in collecting savings and directing financial resources towards sectors which required funding through the establishment of public shareholding companies in various sectors.

It is worth mentioning that this conference considered as an Arab and international platform aiming at the diagnosis of the challenges of the Arab economy and what ails of slow growth , and spread of unemployment among Arab youth and identifying ways to  address such challenges , especially in terms of necessary restructuring to accommodate new developments, and the internal and external variables , in addition to revitalize the labor market and increase growth rates in spite of the political and economic challenges passed by neighboring countries .

 

The Companies' First Quarter Reports for the year 2014

 The Acting CEO of the ASE, Mr. Nader Azar, said that according to the listing securities Directives for the year 2012; all companies listed at the ASE should submit their quarterly reports reviewed by their auditors within one month of the end of the mentioned quarter. Azar added that the number of companies which submitted their reviewed quarterly reports reached (201) companies representing (85%) of the overall companies within the time limit of receiving their quarterly reports ended on Wednesday 30/4/2014.

Azar added that the ASE circulates these reports to the brokerage firms, and post them on the ASE website www.exchange.jo (Arabic Version)

in circulars and disclosures/quarterly reports window.

On the other hand, Mr. Azar said that a number of listed companies - mentioned Annex- did not submit their reviewed quarterly reports within the time limit, breaching the provisions of Article (17) of Listing Directives at the ASE, where Jordan Commercial Bank and Jordan Phosphate Mines submitted the ASE with their un-reviewed quarterly reports within the time limits while The Consultant & Investment Group submitted the ASE with its reviewed quarterly reports after the time limit.

It is worth mentioning that companies that didn't provide the ASE with the required data in the time limit will be subject to the sanctions stipulated in Listing Securities Directives.

 

April

ASE' Fifteenth General Assembly Meeting

The Amman Stock Exchange (ASE) held its Fifteenth General Assembly Meeting on Thursday, March 27, 2014. The meeting Chaired by Mr. Marwan Al-Bataineh the chairman of the Board of Directors, in the presence of the members of the Board of Directors, the Acting CEO of the ASE Mr. Nader Azar and a representative of the Jordan Securities Commission (JSC). During the meeting, they discussed the report of the Board of Directors on the activities of the ASE for the year 2013 and its future plan; the participants will listen to the Auditor's Report including the balance sheet, final statements of account, and the financial position. Moreover, they also discussed the annual balance sheet, the account of revenues and expenditures, and the cash flow for the ASE. The financial statements for the year ended December 31st, 2013 also endorsed.  

 

Challenge Initiative for Research Universities in Jordan

Under the patronage of the Amman Stock Exchange (ASE), Chartered Financial Analysis Institute (CFA), and the CFA Jordan   launched the Challenge Initiative for Research Challenge in Jordan. Teams from four local leading Jordanian universities competed with a chance to participate at the regional and global levels.

This challenge is an  original imitative devised   to teach university students in Jordan the best practices  in equity research, valuation, and ethics and as a means for  leading industry professionals to train students  in researching and reporting on public companies.  Arab Potash Company was selected as the subject company for the challenge.

The four participating universities are: the Yarmouk University, the Jordan University, The Hashemite University and the Applied Sciences University, the judgment committee including the acting CEO of the ASE Mr. Nader Azar chose Jordan University as the winner of the local challenge so as it will participate in the regional challenge which will be in Milan / Italy on April 2, 2014, with a chance to compete at the global level if the team win at the regional level.

 

Student's Delegation Visits the ASE

Amman Stock Exchange (ASE) received student's delegation from Amman Training Center Ms. Malak Al-Jazzazi from Awareness and Public Relations Dept. briefed the delegation about the mechanisms of investment at the ASE  and  the latest legislative and technical developments of the Jordan capital market at the legislative and technical level. Also, the delegation visited the Investor's Gallery in the Housing Bank Complex and they toured a number of brokerage firms.

 

March

ASE’ Fifteenth General Assembly Meeting

The Amman Stock Exchange (ASE) will hold its Fifteenth General Assembly Meeting on Thursday, March 27, 2014 at one half past PM, the meeting will be Chaired by Mr. Marwan Al-Bataineh the Chairman of the Board of Directors, in the presence of the members of the Board of Directors, the Acting CEO of the ASE Mr. Nader Azar and a representative of the Jordan Securities Commission (JSC). During the meeting, they will discuss the report of the Board of Directors on the activities of the ASE for the year 2013 and its future plan; the participants will listen to the Auditor's Report including the balance sheet, final statements of account, and the financial position. Moreover, they will discuss the annual balance sheet, the account of revenues and expenditures, and the cash flow for the ASE. The financial statements for the year ending December 31st, 2013 will be endorsed. 

 

 February

Amman Arab University Delegation Visits the ASE :

 The Amman Stock Exchange (ASE) received a student delegation from Amman Arab University / Banking and Finance Department at Business Faculty - where Mr. Amjad Al-Qudah, the Head of Awareness and Public Relation Department, presented an explanation of the nature of the work of the ASE and its investment methods and the recent developments witnessed by the Jordanian Capital Market. Also, Mr. Mohammed Shneawer, the Head of Operations and Information Dissemination at Listing and Operations Department presented a live trading session and an explanation of the main features of the applied electronic trading system at the ASE.

 

January

Student's Delegation Visits the ASE

Amman Stock Exchange (ASE) received student's delegation from Hittien College  Ms. Malak Al-Jazzazi from Awareness and Public Relations Dept. briefed the delegation on the latest legislative and technical developments of the Jordan capital market at the legislative and technical level. Also, the delegation visited the Investor's Gallery in the Housing Bank Complex and they toured a number of brokerage firms.