GEN - SacOil Holdings Limited - Censure imposed by the JSE on SacOil Holdings
JSE
GEN
GEN - SacOil Holdings Limited - Censure imposed by the JSE on SacOil Holdings
Limited
The JSE Limited ("JSE") wishes to advise the following concerning certain
findings by the JSE in respect of SacOil Holdings Limited ("SacOil" or "the
Company"):
1. On 25 October 2011 SacOil released a trading statement indicating that the
headline earnings per share ("HEPS") for the six months ended 31 August
2011, would be negatively impacted by at least 330% to 350% compared to the
equivalent period in the previous year.
2. On 10 November 2011 a second trading statement, in respect of the same six
month period, was announced indicating that the HEPS would be positively
impacted by at least 640% to 660% compared to the equivalent period in the
previous year.
3. With regard to the first announcement in relation to the trading statement,
the JSE has found SacOil to be in breach of the general principle (v) of
the Listings Requirements ("LR"), which principle requires that all parties
involved in the dissemination of information into the market place, whether
directly to holders of relevant securities or to the public, observe the
highest standards of care in doing so.
4. The JSE has decided to impose this public censure on SacOil in relation to
the abovementioned breach of the LR.
22 May 2012
Date: 23/05/2012 08:00:01 Produced by the JSE SENS Department.
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