Disclosure of Material Information
- The affiliate company Beaches for Hotels and Resorts sold a land it owns located in Aqaba City for a total value of about (26) million Jordanian Dinars (about USD36.67m)
- Arab International Hotels holds (30.926 %) of the equity of Beaches
- The General Assembly of Beaches at its meeting held on Dec 30 2019 resolved to:
- Decrease the authorized and paid up capital of the company from (10) Million Jordanian Dinars to (2) Million Jordanian Dinars.
- Distribute (12) Million Jordanian Dinars representing (120%) of its paid up capital as dividend to its shareholders.
- AIH share of the dividend will amount to about JOD(3.7) million (equivalent to USD 5.2 Million).