Mubasher: Jordan’s Winter Valley Tourism Investment Company said on Monday that shareholders, in an Extraordinary General Meeting (EGM), approved a proposal by the company’s board to amend the capital increase resolution.

The board suggested a change in the raise value to JOD 20.82 million from JOD 11.54 million approved previously, to make a post-increase capital of JOD 39 million, according to a statement by the company.

 Ernst and Young financial services earlier warned that the Amman listed company needs an additional funding source either through capital increase or additional bank facilities.