The General Assembly of the Jordanian Zara Investments Holding Company, chaired by Sabih Al-Masri, recently decided to increase its capital by 45 million stocks, valued at Jordanian Dinar (JD) 67.5 million ($95 million) including issuance costs. According to Addustour newspaper, as a result of the decision, the company’s capital grew from 80 million to 125 million shares (125 million dinars).
This and other issues were recently discussed at Zara’s annual assembly, held at the Movenpick Hotel in Aqaba. On the agenda was the company’s financial performance in the fiscal year of 2000, as well as a discussion of further future plans.
Zara possesses and operates five different five-star hotels in Jordan, including the Intercontinental Hotel and the Grand Hyatt Hotel in Amman, Movenpick Hotel in the Dead Sea, Movenpick Hotel in Aqaba and the Movenpick Hotel in Petra. These hotels have a total of 1,600 rooms and suites, and make up 53 percent of the overall five-star hotel rooms in Jordan. The hotels employ 2,100 workers. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
