JSE LIMITED - Censure imposed by the JSE Limited on Sycom Property Fund relating to general issues for cash by Sycom
JSER 201210300003A
Censure imposed by the JSE Limited on Sycom Property Fund relating to general issues for cash by Sycom
GEN – General – Censure imposed by the JSE Limited (“JSE”) on Sycom Property Fund
(“Sycom”) relating to general issues for cash by Sycom
The JSE wishes to advise the following concerning certain findings by the JSE in respect of Sycom:
The JSE has found Sycom to be in breach of certain of the JSE Listings Requirements (“LR”) and in
particular paragraphs 13.32 and 13.33 (which require Sycom to comply with the LR) and 5.50(b) and
5.52, in particular 5.52(e) (which require Sycom to obtain unitholder approval prior to effecting general
issues for cash) as Sycom did not obtain the necessary prior approval of Sycom holders of participatory
interests (“units”) in respect of three additional listings of units issued in respect of three general issues
for cash, two during 2010 of 1 396 657 and 780 078 units respectively and one in February 2012 for
32 422 638, involving a total of 34 599 373 units, and representing an increase of approximately 16% on
the number of units in issue.
The JSE has decided to impose this public censure on Sycom in relation to the abovementioned
breaches of the LR.
30 October 2012
Date: 30/10/2012 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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