Release the Lock-up on Shares of Capital Increase of the Holy Land Insurance Co.
التاريخ
Ref. : 8/11/5442
Date: 04/12/2018
Memo No.
(61/2018)
Members of SDC of Brokers and Custodians
Dear General Manager,
Subject: Release the Lock-up on Shares of Capital Increase of the Holy Land Insurance Co.
Greetings,
In accordance with the decision of the Board of Commissioners of the Jordan Securities Commission (JSC) no. (258/2016) dated 20/11/2016 including the approval of registering the share capital increase of (2,000,000) shares of Holy Land Insurance through non-public offering as follows:
1. (1,836,380) shares for the shareholder “Mr. Samer Baha'a Aldean Mohy Aldean AlModaffar” in exchange for offering in-kind payments, provided that these shares are under lock-up for two years from the completion date of the issuance procedures at the JSC.
2. The remaining number of shares (163,620) is allocated to parties mentioned in the Jordan Securities Commission (JSC)’s Board of Commissioners decision dated 05/10/2016.
2. The remaining number of shares (163,620) is allocated to parties mentioned in the Jordan Securities Commission (JSC)’s Board of Commissioners decision dated 05/10/2016.
Later to completion the process of decreasing the capital of the company on 13/04/2017, which resulted in the decreasing of the ownership of shares allocated to “Mr. Samer Baha'a Aldean Mohy Aldean AlModaffar" to become (918,190) shares instead of (1,836,380) shares which are under lock-up.
Whereas, the SDC will release the lock-up on the shares of the Holy Land Insurance company on Tuesday 04/12/2018 upon the lapse of two years from the completion date of issuing these shares at the JSC on 05/12/2018.
Whereas, the SDC will release the lock-up on the shares of the Holy Land Insurance company on Tuesday 04/12/2018 upon the lapse of two years from the completion date of issuing these shares at the JSC on 05/12/2018.
Thereby, the SDC record for the Holy Land Insurance Company indicates the following:
| Issuer Information | Security Information | ||||
| Registration No. | Institution No. | Subscribed Capital | No. of lock-up Shares to be Released |
ISIN
|
Security No. |
| 136 | 200023041 | 5,000,000 | 918,190 | JO2101011010 | 121010 |
Kind Regards,
Khalil Naser
Chief Executive Officer
