RJ charts out restructuring strategy
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Royal Jordanian recently held its ordinary and extraordinary meeting in Amman presided by chairman of the RJ Board of directors Suleiman Al Hafez.
The meeting was also attended by members of the board of directors and RJ president and CEO Captain Haitham Misto, in addition to the companies’ general comptroller Nidal Al Sader, auditors of RJ accounts Ernst and Young and some shareholders.
The meeting discussed among the many topics restructuring of the capital. It was also decided to reduce it by JOD37.9 million to offset part of the company’s accumulated losses at yearend 2014. At the same time, the capital will be increased by JOD200 million shares/dinars.
Hafez mentioned that the increase will happen in three phases; implementation of the first will start in 2015 and increase will be by JOD100 m; the capital will be increased by another JOD100 m in the coming years throughout the period required to implement a restructuring plan from 2015-2019.
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