(MENAFN - Jordan Times) The Jordan Securities Commission (JSC) barred board members, director generals and financial managers at several companies from trading shares starting April 30 and until a further notice.
"The banning decision was taken because of the financial conditions of these companies and the remarks by external auditors," a JSC statement said indicating that those mentioned are prohibited from trading shares in their personal capacity or via companies under their control.
The decision covers the following companies: Jordan Ceramic Industries, Akary for Industries and Real Estate Investments, Middle East Specialised Cables Company/MESC-Jordan, Jarasa Insurance , First National Vegetable Oil Industries and Jordan Projects for Tourism Development Co.
It also covers Injaz for Development Projects, Middle East Diversified Investment Company and Jordan Press & Publishing Co.- Ad-Dustour Company.
Meanwhile, shares of the Arab Assurers Company were back into trading at the Amman Stock Exchange on Monday after the firm completed procedures to reduce its capital as required by the JSC which also prohibited the board members, director general and financial manager of Arab Assurers from trading in the shares of their company and others under their control.
The JSC works to regulate, monitor and develop the capital market in issues related to disclosure, financial services activities and dealing in securities.