GEN - General - Consultation process on proposed changes to the Listings
JSE
GEN
GEN - General - Consultation process on proposed changes to the Listings
Requirements regarding supplementary circulars and notifications dealing with
changes that have occurred to previously issued circulars or announcements
The JSE Listings Requirements ("LR") require that Issuers update the market
when there are changes to information contained in previous announcements and
circulars. Concerns have been raised regarding the application of these LR.
More specifically, the LR causes tension with IFRS, which allows a company a
12 month period to finalise the manner in which it accounts for an
acquisition. Furthermore the usefulness of a corrective announcement, after a
matter has been approved by shareholders, and after the acquisition has been
included in the Issuer`s published results is questionable. The JSE is
proposing changes to the LR to address these points.
The proposed Listings Requirements are available on the JSE`s website and
interested parties are invited to submit their comments by no later than 17
July 2012. Comments can be submitted electronically to feliciam@jse.co.za.
14 June 2012
Date: 14/06/2012 12:09:01 Produced by the JSE SENS Department.
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