Jordinvest holds General Assembly Meeting

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 JD4.3m by the end of 2007, compared to JD1.1m by the end of 2006.

The company has also grown its revenues by 118% to reach JD8.9m, compared to JD4.1m by the end of 2006.

Similarly, shareholders' rights increased from JD48.7m in 2006 to JD50.7m in 2007 and the overall value of the company's assets rose by 17% to reach JD63.8m, compared to JD54.5m 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.