direct: In the disclosure that the company listed on the Amman Stock Exchange, the Jordan Petroleum Refinery Company’s board of directors recommended distributing 25% in cash from the paid-in capital, i.e. 250 fils per share, the net tax for the share owner duly registered in the company’s records.
And the CEO of the Jordan Petroleum Refinery Company, Abdul Karim Al-Alaween, revealed, according to a press statement today, Sunday, that the company’s net profit for the year 2021 amounted to about 52.2 million dinars, and these profits are considered the highest in the company’s history, according to the Jordan News Agency “Petra”, today, Sunday.
Al-Alaween said that the profit came from the refining activity and filling gas cylinders, with a value of 20.6 million dinars, from the oils factory, with a value of 7 million dinars, and from the Petroleum Products Marketing Company, with a value of 24.3 million dinars.
The company announced the date of holding the meeting of the general assembly of the company’s 66 shareholders by means of visual and electronic communication at eleven o’clock in the morning on Wednesday 27/4/2022.
The Board of Directors also recommended to shareholders the approval of deducting 10 percent of the annual net profits of the activities of the Jordan Petroleum Products Marketing Company to account for the mandatory reserve, a company wholly owned by the Jordan Petroleum Refinery Company.
The company also included on the agenda of the general assembly a recommendation to continue to stop deducting 10 percent as a mandatory reserve from the net annual profits for the rest of the company’s activities.
The company recommended allocating an amount of about 12.9 million dinars to the account of the voluntary reserve, and allocating an amount of 12.9 million dinars to the account of the special reserve for the purposes of the fourth expansion project, in addition to using the balance of the accumulated voluntary reserve for the purposes of the fourth expansion project.
And about the fourth expansion project, Explain that the project management contractor PMC company Technip The British branch is currently working on studying technical offers packages, and sending inquiries to all coalitions.
And expect highs The implementation of the project should begin upon completion of the work related to the financial closure, which is expected to be reached by the end of the current year.