News / E-Bulletin

Entities regulated by the Johannesburg Stock Exchange (“JSE”)

Apr 9,2020

Shayne Krige - Head of Investment Funds

by Hilah Laskov, Senior Associateand Chelsea Roux, Candidate Attorney
Reviewed by Shayne Krige, Director and head of the Investment Funds & Private Equity practice

Companies listed on the JSE have been granted a two-month extension to the time periods within which they must comply with certain listing requirements.

Extension of the period for compliance with timeframes of JSE LISTING REQUIREMENTS IN TERMS OF SECTION 11 OF THE FMA

The JSE Listing Requirements oblige listed companies to submit, publish and distribute certain documents within three months of its financial year end. The FCSA has, in respect of all entities that would be required to comply with these provisions during the period 31 March 2020 to 30 June 2020, extended the period for compliance by two months.

The extension applies to the following JSE Listing Requirements:

Requirement Description
JSE Listing Requirement Paragraph 3.16 Publishing of provisional AFS
JSE Listing Requirement Paragraph 3.19 Distribution of notice of annual general meeting and financial statements to holders of securities
JSE Listing Requirement Paragraph 19.20 Publishing of AFS on website
JSE Debt Listing Requirements Paragraphs 7.4 and 7.5 Submission of AFS to the JSE
Financial Year End Original Compliance Date Extended Date
31 March 2020 30 June 2020 31 August 2020
30 April 2020 31 July 2020 30 September 2020
31 May 2020 30 August 2020 31 October 2020
30 June 2020 30 September 2020 30 November 2020

The FSCA has advised that these extensions will apply irrespective of any further extensions that may have already been granted to individual issuers by the JSE itself. In addition, the applicable provisions in the JSE Listing Requirements and JSE Debt Listing Requirements that have a direct bearing on the extensions afforded to the publication of financial results such as reminder letters, annotations and suspension considerations, will be postponed for the same period.

The JSE has further advised that issuers who intend on making use of these extensions should ensure that (a) the market is updated through SENS announcements and (b) the JSE is notified in writing.