to liquidate their work and stop its activities .. lay off 160 staff in the Iraqi Land Transport Company - Jordanian

Is this the same Company on the ISX? It says it is a joint Jordanian/Iraqi Government Company

to liquidate their work and stop its activities .. lay off 160 staff in the Iraqi Land Transport Company - Jordanian

The Chairman of the Committee for the liquidation of the Iraqi Land Transport Company - Jordanian observer of Jordanian companies that the total workers in the company of 232 was Alastghae services on a total of 160 employees of the circumstances of the liquidation of the company and stop its activities. Rawashda added in press statements that "staff and the rest of the 72 staff The company's need for a certain period in order to complete the liquidation process and they are guards and staff and financial affairs staff will be hired in the work of liquidation. As for the rights of workers, he stressed that most of them will receive all their rights as labour law, but 22 employees will receive their rights according to the Labour Law and Order Special The company. Rawashda noted that the Commission liquidation governed by the law of Labour and Social Security Act and the holding company and its statute and can not exchange for the liquidation of any additional payments other than as provided for.

He said the company is a joint government between the Jordanian and Iraqi and Jordanian government can not impose any financial burdens on the company as a joint between the two governments, as under liquidation.
He explained that after the sale of the assets of the company and give all their employees, creditors and if the additional funds will be distributed equally between the two governments and then to the Jordanian government the right to act in their share. The Iraqi Land Transport Company - a Jordanian leading companies in the road transport sector was founded in 1980 a capital of 50 million Dollars, divided equally between the two countries.

http://www.almadapaper.com/paper.php?source=akbar&mlf=interpage&sid=45756

So are my shares lost?

dlp wrote:So are my shares lost?

Iraqi Land Transport on the ISX is a different company, It's doing great!

dip, Iraqi Land Transport trades a 4.5 I have doubled my money on it, transports are hot! CROW