96% of ASE Listed Companies Complied with the Requirement to Submit their 2021 Annual Financial Statements within the Specified Period
Mr. Mazen Wathaifi Chief Executive Officer of Amman Stock Exchange (ASE) said that 96% out of 171 listed companies have provided the ASE with their audited annual financial statements for the period ended 31/12/2021 during the specified period in the Directives of Listing Securities, through the e- disclosure System XBRL. This high percentage reflects the compliance of listed companies with the laws and regulations, and the compliance of such companies with the principles of transparency and disclosure.
Mr. Wathaifi added that all companies listed on the ASE should provide to the ASE with their audited annual financial statements within the specified period, according to the Directives for Listing Securities on the ASE. He mentioned that the ASE posts these financial statements on the ASE website www.exchange.jo under Circulars and Disclosures/ annual reports window.
He also added that four companies namely, INTERNATIONAL BROKERAGE & FINANCIAL MARKETS, WINTER VALLEY TOURISM INVESTMENT, OFFTEC HOLDING GROUP, ARAB UNION INTERNATIONAL INSURANCE have failed to provide the ASE with their audited annual reports for the period ended on 31/12/2021 during the specified period. Accordingly, the ASE suspended their shares from trading as of Sunday 3/4/2022. The trading in these companies' shares will remain suspended until they provide the ASE with the required financial statements, It is noteworthy that since the general assembly of the TRANSPORT & INVESTMENT BARTER COMPANY (NAQL) did not approve the audited annual financial statements for the year 2021 in its ordinary meeting held on 21/03/2022; the ASE suspended trading in its shares on 23/03/2022 and transfer the trading of its shares to the Unlisted Securities Market.
The ASE will also continue suspending the trading in shares of PHILADELPHIA INSURANCE company and INTERNATIONAL CARDS company, for failing to provide the ASE with their previous financial statements, in addition to audited annual financial statements for the period ended 31/12/2021, noting that the shares of these companies shall continue to be available for trading in the Unlisted Securities Market.