Jordan Investment Trust PLC (Jordinvest) held yesterday its ordinary
General Assembly meeting, which was chaired by Mr. Ahmad Tantash, Chairman and CEO
of the company, and attended by the Board of Directors and shareholders. During the
meeting, the General Assembly approved the Board of Directors' report and the company’s
financial results and endorsed the Board of Directors' recommendation to distribute 8% of the
company's capital as profits in cash.
Mr. Ahmad Tantash expressed his great pleasure with the company's positive achievements,
which were a result of dedicated and excellent performance and a wise business strategy. He
discussed the company's achievements in terms of exceptional performance and financial
results. He indicated that Jordinvest's profit has increased by 309% to reach JD 4.3 million by
the end of 2007, compared to JD 1.1 million by the end of 2006. The company has also grown
its revenues by 118% to reach JD 8.9 million, compared to JD 4.1 million by the end of 2006.
Similarly, shareholders' rights increased from JD 48.7 million in 2006 to JD 50.7 million in
2007 and the overall value of the company's assets rose by 17% to reach JD 63.8 million,
compared to JD 54.5 million in the previous year.
Jordinvest's latest achievements were also highlighted during the meeting. These included a
number of major investment, privatization projects and initial public offerings, including the
DAMAC Jordan's IPO, where Jordinvest was both financial advisor and IPO manager, and
the launch of Jordinvest MENA Fund, the first Islamic Shariah compliant fund in Jordan.
In terms of developing Jordinvest's internal operations, a Wealth Management department
was created to cater for Jordinvest’s high net worth and institutional clients and, in July 2007,
the company moved to its new state-of-the-art premises.
Mr. Tantash discussed Jordinvest's future plans that attributes the company's continuous
success in the type of services provided and in its presence locally and regionally through its
experienced and skilled employees, who are instrumental to the company's growth and
development.
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