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Follow on Google News | Rum Group and Jordan Commercial Bank sign an agreement to increase the Group’s capital to JD 14 mnRum Group for Transportation and Tourism signed an agreement with Jordan Commercial Bank, whereby the Bank will provide underwriting services to the Group, for the purpose of raising the Group’s capital to JD 14 mn
By: SADDA The Chairman and CEO of the Group; Mr. Riad Khashman explained that the reason underpinning the selection of Jordan Commercial Bank as partner in fulfilling the Group’s goals and strategic plans, was due to the Bank’s well known experience in the field of investment banking, reputation and reliability. He also delineated that the Group is aiming at expanding its investments according to certain strategic plans, to exploit the untapped opportunities in the air transportation sector in Jordan and the region, especially at the presence of the open skies policy, which is expected to have positive impact on the tourism sector in the Kingdom. He also said that the Group is aiming to enhance the integration among the pool of services it provides to achieve higher growth rates and better revenues, also to solidify the Group’s presence in the region. His Excellency Mr. Jawad Al Hadeed the CEO and General Manager of Jordan Commercial Bank also expressed his contentment for selecting the Bank to be the financial advisor for the Group, which came consistent with the Bank’s aspirations as well as its integrated pool of services that the Bank provides to its retail and corporate clients. His Excellency also expressed his confidence in the successful plans of the Group and its expansionary goals and investments. Early this year the Extraordinary General Assembly meeting of the Group has approved the distribution of 700,000 in share dividend to its shareholders, it has also approved increasing the capital by JD 5.3 mn through private offering to existing shareholders at JD 1.0 per share and with zero premium, and the bond issuance of JD 5.0 mn. About Rum Group: Rum Group is now considered upon the top 3 tourism companies in Jordan and represents a dynamic collective force committed to the promotion of tourism and transportation in an emerging destination. In 2006, the Group became listed on the Amman Stock Exchange under (RUMM), with a paid up capital of JD 6.0 mn, by end of 2010 the Group will stand at a paid up capital of JD 14.0 mn. Rum Group realizes global vision though providing a profitable model of integrated tourism services in Jordan and the region to ensure unparalleled customer satisfaction and investment rewards through constant development of services, new product lines and quality human resources. # # # SADDA is a marketing, branding, graphic, and online business solutions studio based in Amman, Jordan. At SADDA we specialize in building creative and innovative solutions. End
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