Completion of merger of the First Insurance and Yarmouk Insurance Companies
Date: 24/02/2016
| On Wednesday 24/02/2016, the SDC completed the process of merger of the First Insurance and Yarmouk Insurance Companies, and registered the share capital increase of (4,000,000) shares of the First Insurance Company (merging company). The share capital increase was performed through: | |
| 1. | Distributing (2,242,500) shares as stock dividends to the shareholders of the First Insurance Company before merger. |
| 2. | Allocating (1,757,500) shares to the non-controlling shareholders of the Yarmouk Insurance Company. |
| Thereby, the SDC record of the First Insurance Company indicates the increase of its capital from (24,000,000) shares to a registered capital of (28,000,000) shares as a result of the mentioned share capital increase. | |
| The above mentioned procedure is conducted based upon the company's General Assembly's resolution made in its extraordinary meeting held on November 02, 2015 which was granted the approval of the Ministry of Industry and Trade on January 26, 2016, and upon the approval of the Jordan Securities Commission issued in February 18, 2016. | |
