GEN - JSE Limited - Premature Release of Absa Interim Results
JSE
GEN
GEN - JSE Limited - Premature Release of Absa Interim Results
JSE Limited
(Incorporated in the Republic of South Africa)
Premature Release of Absa Interim Results
The JSE Limited (JSE) and Absa Group Limited (Absa) confirm that the independent
investigation into the circumstances surrounding the premature release of Absa`s
interim results has been concluded. It has been established that an
unintentional breach of Rule 3.5 of the JSE Listings Requirements occurred in
that price sensitive information was provided to the media prior to its release
over SENS. Rule 3.5 stipulates that price sensitive information may not be
provided to the media prior to its release on SENS even where such information
is only to be published after release over SENS.
The JSE has decided not to impose a further penalty on Absa after considering
the following:
- the mitigation implemented by Absa to prevent or minimise any
potential undesirable effects;
- the public censure that has already occurred;
- that the Absa results were in line with the trading update published
on 29 July 2010;
- that the results had very little impact on the volumes and value
traded after their release; and
- the immediate notification of the JSE by Absa once it was discovered
that the breach had occurred.
Absa is also further implementing a number of enhanced governance actions and
controls to ensure that a similar incident does not occur in future, including
reviewing third party supplier governance and limiting publication to daily
newspapers.
9 September 2010
Date: 09/09/2010 17:01:01 Produced by the JSE SENS Department.
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