JSE LIMITED - 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 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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