General SENS Submitter Company - GEN/General Bridge Capital Advisors (Pty) Ltd-Censure imposed by the JSE against Bridge Capital Advisors (Pty) Ltd

GEN/General – Bridge Capital Advisors (Pty) Ltd-Censure imposed by the JSE against Bridge Capital Advisors (Pty) Ltd

GEN – General – Bridge Capital Advisors (Pty) Ltd
Censure imposed by the JSE against Bridge Capital Advisors (Pty) Ltd (“Bridge Capital”)


The JSE wishes to inform stakeholders of the following findings by the JSE in respect of Bridge Capital:


    1. Bridge Capital was the JSE appointed sponsor to PBT Group Limited (“PBT”) until 9 November
        2018.


    2. During this time and as a result of the JSE’s investigation into PBT, the JSE found that PBT’s
        notices of annual general meeting (“AGM”) included in the Integrated Reports for each of the
        2014 to 2018 financial periods, did not contain the necessary disclosures required for a general
        authority to repurchase shares resolution in terms of the JSE Listings Requirements.


    3. Sponsors play an important role in ensuring that issuers meet all the criteria stipulated in the
        Listings Requirements. Sponsors also play a critical role in ensuring that relevant
        documentation are in compliance with the Listings Requirements prior to submission to the
        JSE and ultimately to shareholders. The JSE therefore places significant reliance on a sponsor
        fulfilling this role to ensure proper regulation of the market.


    4. The JSE found that Bridge Capital failed to discharge its responsibilities as PBT’s sponsor with
        due care and skill in terms of paragraph 2.8(h) of the Listings Requirements which failure
        directly resulted and/or contributed to PBT’s failure to comply with important provisions of
        the Listings Requirements.


The JSE has decided to impose this public censure against Bridge Capital with a fine of R200 000 (two
hundred thousand rand) in relation to the aforementioned breach of the Listings Requirements.


30 October 2019

Date: 30/10/2019 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.