Disclosure of Material Information
January 16, 2020
Disclosure of Material Information 2020-01-16 2020-01-16 http://aiho-jo.com/wp-content/uploads/2016/05/AIHO-01-2-1.png Arab International Hotels Company http://aiho-jo.com/wp-content/uploads/2016/05/AIHO-01-2-1.png 200px 200px
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).