Mubasher: The shareholders of Methaq Real Estate Investment approved during the company’s extraordinary general meeting (EGM) to reduce the company’s capital from JOD 13.27 million to 9.5 million.

The reduction value which amounts to JOD 3.77 million will be distributed on shareholders, as it represents an excess to the company’s needs, according to Methaq’s statement to the Amman Stock Exchange (ASE) on Tuesday.

Methaq’s shareholders have also approved decreasing the number of the members in the board of directors from seven to five. The current board shall continue since two members have resigned.

The company’s board recommended the capital reduction on 20 October.