JSE LIMITED - GEN Mr NG Vontas - Censures imposed by the JSE on Mr NG Vontas in his capacity as the CEO of Bonatla Property Hold

GEN – Mr NG Vontas - Censures imposed by the JSE on Mr NG Vontas in his capacity as the CEO of Bonatla Property Hold

GEN – Mr NG Vontas - Censures imposed by the JSE on Mr NG Vontas in his capacity as the CEO
       of Bonatla Property Holdings Limited




       The JSE Limited ("JSE") has been conducting an investigation into the actions of Mr NG
       Vontas in his capacity as the CEO of Bonatla Property Holdings Limited (Bonatla” or the
       “Company”).




       The JSE wishes to advise the following concerning certain findings by the JSE in respect
       of Mr Vontas in his capacity as the CEO of Bonatla:




       1. The JSE has found Mr Vontas to be in breach of:
               a. paragraph (ii) of the General Principles of the JSE Listings Requirements
                   (“LR”) for causing the JSE to lift the suspension of Bonatla securities on the
                   JSE when it was not appropriate to do so;
               b. Paragraph (iii) of the General Principles of the LR for failing to ensure full
                   and timeous public disclosure regarding the activities of the Company that
                   are price sensitive;
               c. Paragraph (v) of the General Principles of the LR for failing to authenticate
                   the veracity of the statements which formed the basis of the JSE’s decision
                   to lift the suspension of Bonatla’s securities;
               d. Paragraph (vii) of the General Principles of the LR for disregarding the
                   standards of disclosure needed to promote investor confidence in the
                   market and in the Company; and
               e. Paragraph 3.4(a) of the LR for failing to publish a clear and precise
                   announcement as soon as the Company became aware of the unsuccessful
                   transfer of the relevant properties as it formed the basis of the JSE’s
                   decision to lift the suspension of Bonatla’s securities.
       2. The JSE has decided to impose this public censure on Mr Vontas as well as a fine of
                   R500 000 (R250 000 of which is suspended for twenty four months) in relation to
                   the above-mentioned breaches of the LR.
       3. The JSE’s decision is based on:
                a. The fact that Mr Vontas in his capacity as the CEO of Bonatla misled the JSE
                   by providing the regulator with written undertakings that it had fulfilled all
                   the criteria for listing thereby causing the JSE to lift the suspension of
                   Bonatla securities in August 2009;
                b. Mr Vontas’s failure to inform the JSE of material events and information
                   affecting the status of Bonatla’s listing on the JSE as soon as he became
                   aware thereof or at any time thereafter, which information formed the
                   basis of the JSE’s decision to lift the suspension of Bonatla’s securities.




Sandton

30 March 2015

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