JSE LIMITED - GEN General - Total Client Services Limited - Censure imposed by the JSE on Total Client Services Limited
JSER 201501230001A
GEN – General - Total Client Services Limited - Censure imposed by the JSE on Total Client Services Limited
GEN – General - Total Client Services Limited - Censure imposed by the JSE on Total Client Services Limited
The JSE Limited ("JSE") wishes to advise the following concerning certain findings by the JSE in respect
of Total Client Services Limited ("the Company”).
1. The JSE has found the Company to be in breach of General Principles (iii), (v) and (vii) to the
JSE’s Listings Requirements (“the LR”), namely:
a. “(iii) to ensure that full, equal and timeous public disclosure is made to all holders
of securities and the general public at large regarding the activities of an issuer that
are price sensitive;
b. (v) to ensure 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;
c. (vii) to ensure that the Listings Requirements, and in particular the continuing
obligations, promote investor confidence in standards of disclosure and corporate
governance in the conduct of applicant issuers’ affairs and in the market as a
whole.”
2. The JSE has decided to impose this public censure on the Company in relation to the above
mentioned breaches of the LR.
3. The JSE’s decision is based on the fact that the going concern assumption made by the
Company in its annual report was inappropriate when the financial statements for the year
ended February 2013 were approved by the Company’s board on the 12 September 2013.
23 January 2015
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