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Union Construction and Investment UCI decreases its paid up capital by 20%


Union Construction and Investment Company UCI announced to its shareholders as of the date of the general assembly meeting of 29/04/2012 based on the extraordinary general assembly meeting’s decision to reduce the company’s paid up capital by 20%, starting to distribute the reduced shares’ proceeds. And according to the details of the announcement by the company, the company’s shareholders that are registered in Palestine should take the proceeds from Bank of Palestine starting from 16/07/2012, while the shareholders that are registered in Jordan should take the proceeds from MENA Geothermal Company- UCI’s subsidiary in Jordan, while the shareholders that are registered outside Jordan and Palestine, the company will transfer the proceeds to their banking accounts through official documented requests by the shareholders.

According to UCI’s extraordinary general assembly meeting’s decision, the paid up capital records $32 million after the reduction, and this modification was executed on the company’s shareholders registry on the Clearing, Depositary and Settlement System CDS. In accordance, Palestine Stock Exchange PEX resumed UCI’s share trading on 15/07/2012 after halting its trading due to the general assembly’s decision on 29/04/2012.


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