Al Faris National Co for Investment and Export has scheduled its Board meeting to be held on Sunday, January 14, 2015 to elect a new board, according to the Amman Stock Exchange (ASE).

Furthermore, Al Faris National announced in another statement to ASE that it will increase its capital by JOD 10.05 million to reach JOD 16 million distributed on 16 million shares.

The Company’s capital increase will be listed on ASE as of December 30, 2014. However, the shares will remain suspended from trading based on Capital Market Authority’s decision on June 26, 2010.

Earlier this year, Al Faris National reduced its capital from 34 million shares to 5.944 million shares at JOD 1 par value each starting from next Sunday.

Photo Credit: Arabianeye-Reuters