The deadline for determining the method of managing Justice Shares ends on May 28
The director general of the Iranian Privatization Organization said the deadline for determining the method of managing the Justice Shares will end on May 28.
(SHADA: TEHRAN) -- At a press conference held this morning (Saturday) at the Ministry of Economic Affairs and Finance, Alireza Saleh told reporters: The Justice Shares were released on April 28, and from April 29, the beneficiaries of these shares have been given the opportunity to determine their stock management methods in two direct and indirect ways by referring to the Justice Shares System.
If shareholders do not choose the direct method, the system will automatically choose the indirect method for them, he added.
Beneficiaries of the Justice Shares should know that there are only 20 days left to determine how to manage the Justice Shares, and this time will not be extended in any way, Saleh said.
Stating that some people have Justice Shares' worth of 492,000 Tomans and others have shares' worth of 532,000 Tomans, Saleh said: At one time, a profit of 40,000 Tomans was distributed among the beneficiaries, some did not receive the profit, which was added to 492,000 Tomans, and the total value of their shares reached 532,000 Tomans.
Some people have more than one million Tomans of Justice Shares that have been added to their shares through the share of inheritance, and some may have less than 492,000 Tomans of justice shares, he noted.
Saleh stated that from 1395 to 1397 (March 2016-2018), we paid the profit of Justice Share' companies in three stages, adding: The distribution of Justice Shares was implemented in 2006 by the order of the Supreme Leader for the six lowest income deciles, and the two lowest income deciles enjoyed a 50% discount.
The head of the Privatization Organization further advised: If the beneficiaries of Justice Shares are familiar with the stock market, it is better to choose the direct method for ownership and management of shares, and those people who are not familiar enough with the stock market should choose the indirect method and leave the management of their shares to the provincial investment companies.
Provincial investment companies, in the form of legal personality of public company with limited liability, enter the stock market through shareholders and manage their shares in a completely transparent manner, he added.