GEN - General - Consultation process on proposed changes to Listings
JSE
GEN
GEN - General - Consultation process on proposed changes to Listings
Requirements regarding information to be included in summary circulars
Section 6.11 of the Companies Act 71 of 2008 ("the Act") makes provision for
a summary document, record or statement to be sent to shareholders, the
summary must however comply with the prescribed requirements in the Act or
Regulations, if any.
Both the Act and Regulations do not stipulate the prescribed requirements
for a summary of the content of the information for circulars. In order to
align the JSE Listings Requirements ("LR") to the Act we recommend that
minimum criteria/requirements be established stipulating the information
that needs to be included in a summary circular as required in terms of the
LR. The minimum criteria should be prescribed by the JSE as the custodians
of the LR.
In addition to the above, we would recommend that the current section 2.8 of
LR, be amended to include a provision that the summary circular must be
reviewed and approved by the Sponsor as confirmation of compliance with the
LR before it is released. The Sponsor will have to provide such confirmation
to the JSE.
The JSE is therefore, considering an amendment to the Listings Requirements
to make provision for the content of summary circulars to be sent to
shareholders.
The proposed Listings Requirements are available on the JSE`s website at
http://www.jse.co.za/How-To-List/Main-Board/Listing-
requirements/Announcements-regarding-listing-requirements and interested
parties are invited to submit their comments by no later than 30 April 2012.
Comments can be submitted electronically to thandekam@jse.co.za.
28 March 2012
Date: 28/03/2012 16:04:01 Produced by the JSE SENS Department.
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