Completion of the Share Capital Decrease of the Jordan Emirates Insurance Co.
Date: 20/02/2017
On Monday 20/02/2017 the SDC completed the process of decreasing the share capital of (2,000,000) JOD/ share with a nearly 33 percent of the Jordan Emirates Insurance Company. The share capital decrease was performed to redeem part of the accumulated losses as of 31/12/2015
Thereby, the SDC record of the Jordan Emirates Insurance Company indicates the decrease of its capital from (6,000,000) JOD/ share to a registered capital of (4,000,000) JOD/ share as a result of the mentioned share capital decrease.
The above mentioned procedure is conducted based upon the company's General Assembly's resolution made in its extraordinary meeting held on 20/11/2016 which was granted the approval of the Ministry of Industry, Trade, and Supply on 25/01/2017.
On Monday 20/02/2017 the SDC completed the process of decreasing the share capital of (2,000,000) JOD/ share with a nearly 33 percent of the Jordan Emirates Insurance Company. The share capital decrease was performed to redeem part of the accumulated losses as of 31/12/2015
Thereby, the SDC record of the Jordan Emirates Insurance Company indicates the decrease of its capital from (6,000,000) JOD/ share to a registered capital of (4,000,000) JOD/ share as a result of the mentioned share capital decrease.
The above mentioned procedure is conducted based upon the company's General Assembly's resolution made in its extraordinary meeting held on 20/11/2016 which was granted the approval of the Ministry of Industry, Trade, and Supply on 25/01/2017.
