GEN - General - Bulletin 4/2008 of the JSE Listing Requirements published on
JSE
GEN
GEN - General - Bulletin 4/2008 of the JSE Listing Requirements published on
8 September 2008
Bulletin 4/2008 of the JSE Listing Requirements published on 8 September 2008
Please note that Bulletin 4 of 2008 of the JSE Listings Requirements which was
published on 8 September 2008 deals with the following changes to those Listing
Requirements
Section 8.63 has been amended to reflect the references to the new SAMREC code
as well as the new Section 12.
Section 12 has been amended in its entirety. The principal changes include the
following:
- The detailed time table for submission of Competent Person`s Reports
("CPR`s") has been included.
- Detailed disclosure requirements have been replaced by reference to
the new SAMREC code.
- Mineral companies need to comply with the SAMVAL code.
- The concept of an "Executive Summary" of the CPR has been introduced.
- Non Mineral companies with substantial mineral assets are now
regulated in terms of this section.
Schedule 14 has been amended in its entirety. The principal changes include the
following:
- 14.1 - The adoption of, and any amendment to, share schemes must be
approved by a 75% majority as opposed to the current 50% (will remain
as an ordinary resolution). Furthermore, any shares held by existing
participants may not participate in the vote should any changes be
made to an existing scheme.
- 14.1(b) - The limit imposed by the JSE on the number of shares which
may be issued through a share scheme is removed but a scheme will
still be required to fix the number of shares which it utilises. This
number may be increased with shareholder approval.
- 14.1(f) - All schemes must show the basis upon which awards are made
and any changes to the basis requires shareholder approval.
- 14.12 and 14.13 - Rolling over (recycling) and back-dating of options
are prohibited.
9 September 2008
Date: 09/09/2008 14:21:02 Produced by the JSE SENS Department.
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