The Companies' First Quarter Reports for the year 2011
The CEO of the ASE Mr. Jalil Tarif said that (91) companies representing (81%) of the overall companies listed at the First Market submitted their quarterly reports reviewed by their auditors within the time limit of receiving their quarterly reports ended on Thursday 28/4/2011.
By virtue of the ASE(15/B) Listing Directives all companies listed at the First Market must submit their reviewed quarterly reports during the first month that follows the said quarter. Such a step assures the First Market companies' transparency and disclosure in addition to abiding by other strict conditions relating to their financial position, profitability and shares liquidity.
Tarif added that the ASE circulates these reports to the brokerage firms, and post them on the ASE website (Arabic Version) www.exchange.jo in circulars and disclosures/quarterly reports window.
On the other hand Mr. Tarif said that a number of companies listed at the First Market did not submit their reviewed reports within the time limit, breaching the provision (15/B) of the Directives of Listing Securities on the ASE, these companies are:
Middle East Insurance, Arab German Insurance, Arab Real Estate Development, Investment House For Financial Services, Amwal Invest, Emar Investments and Real Estate Development, Middle East Pharma and Chemical Ind , and Medical Appliances, The Investors and Eastern Arab For Industrial and Real Estate Investment, Ready Mix Concrete and Construction Supplies, Jordan Petroleum refinery, Beit Al- mal Saving and Investment for Housing, United Arab Investors, Rum Aladdin Industries, Middle East Complex FOR Eng, Electronics and Heavy Industries, The Jordanian Pharmaceutical Manufacturing. Furthermore, The Arab Assurers submitted it's un-reviewed quarterly report within the time limit. Furthermore, Specialized Investment Compounds, Contempro For Housing Projects, Century Investment Group, The Mediterranean and Gulf Insurance Company -Jordan P.L.C. and the Universal Modern Industries, submitted their reviewed quarterly reports after the time limit.