ASE still receiving Q1 financial statements

AMMAN — The Amman Stock Exchange (ASE) is still receiving the quarterly reports of the period that ended in March 31, 2019, from all ASE-listed companies, ASE Chief Executive Officer Nader Azar said.

In a statement posted on the ASE website, he said the listed companies must submit quarterly reports reviewed by their auditors within one month after the end of the said quarter, in accordance with the market’s directives.

He added that the ASE will suspend the shares of the breaching companies as of the first working day following the deadline of receiving the reports until the companies submit the required reports. 

The ASE will announce the names of breaching companies that did not submit their reviewed interim reports via media outlets, according to the ASE statement.

Such a step seeks to enhance transparency in Jordan Capital Market and helps investors to become acquainted with companies’ results. 

The ASE circulates the reports to brokerage firms and posts them on its website, the statement indicated.