JSE LIMITED - GEN General Exchange Sponsors (2008) Proprietary Limited Public censure imposed by the JSE on Exchange Sponsor
JSER 201412030001A
GEN – General – Exchange Sponsors (2008) Proprietary Limited – Public censure imposed by the JSE on Exchange Sponsor
GEN – General – Exchange Sponsors (2008) Proprietary Limited – Public censure imposed by the JSE on
Exchange Sponsors
Public censure imposed by the JSE on Exchange Sponsors
The JSE Limited ("JSE") wishes to advise the following concerning certain findings by the JSE in respect of
Exchange Sponsors (2008) Proprietary Limited ("Exchange Sponsors”) in its capacity as a designated
advisor to an issuer:
1. The JSE has found Exchange Sponsors to be in breach of:
a. paragraph 2.8(h) of the JSE Listings Requirements (“LR”) for failing to
discharge its responsibilities with due care and skill when it became aware
of the notice of motion for liquidation proceedings against the issuer;
b. paragraph 2.8(j) of the LR for failing to advise the JSE immediately when
they became aware or had reason to suspect that the issuer had or may
have breached the LR.
2. The JSE has decided to impose this public censure on Exchange Sponsors in relation
to the above-mentioned breaches of the LR.
3. The JSE’s decision is based on the fact that due to the price sensitive nature of the
proposed liquidation of the issuer and the seriousness thereof, Exchange Sponsors
had a duty to engage with the JSE as soon as it became aware thereof. “
3 December 2014
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