To view the PDF file, sign up for a MySharenet subscription.

JSE LIMITED - GEN General - Removal of listings on The JSE

Release Date: 04/08/2017 16:00
Code(s): JSER     PDF:  
Wrap Text
GEN – General - Removal of listings on The JSE

GEN – GENERAL - REMOVAL OF LISTINGS ON THE JSE

 1       1TIME HOLDINGS LIMITED                         6     GREAT BASIN GOLD LIMITED
         ALPHA CODE: 1TM                                      ALPHA CODE: GBG
         ISIN: ZAE000102026                                   ISIN: CA3901241057

 2       AFRICAN EAGLE RESOURCES PLC                    7     PLATFIELDS LIMITED
         ALPHA CODE: AEA                                      ALPHA CODE: PLL
         ISIN: GB0003394813                                   ISIN: ZAE000151825

 3       BK ONE LIMITED                                 8     PROTECH KHUTHELE HOLDINGS LIMITED
         ALPHA CODE: BK1P                                     ALPHA CODE: PKH
         ISIN: ZAE000161352                                   ISIN: ZAE000101986

 4       CHEMICAL SPECIALITIES LIMITED                  9    QUANTUM PROPERTY GROUP LIMITED
         ALPHA CODE: CSP/CSPP                                ALPHA CODE: QPG
         ISIN: ZAE000109427/ ZAE000184305                    ISIN: ZAE000125647

 5       COMMAND HOLDINGS LIMITED                       10    WILLIAM TELL HOLDINGS LIMITED
         ALPHA CODE:CMA                                       ALPHA CODE: WTL
         ISIN: ZAE000023131                                   ISIN: ZAE000098133



The JSE recently advised the above issuers that it was considering the removal of their listings at the instance of
the JSE pursuant to the provisions of paragraphs 1.11 and 1.12 of the JSE Listings Requirements as a result of
the issuers not complying with the JSE Listings Requirements.


The following issuers are currently suspended due to various reasons of non-compliance with the Listings
Requirements:

     •         1Time Holdings Limited;
     •         Command Holdings Limited;
     •         Quantum Property Group Limited; and
     •         William Tell Holdings Limited.

The following issuers are currently suspended and under liquidation:

     *     African Eagle Resources Plc;
     *     BK One Limited;
     *     Chemical Specialities Limited;
     *     Great Basin Gold Limited;
     *     Platfields Limited; and
     *     Protech Khuthele Holdings Limited.
Although the above issuers have been suspended from trading, each issuer is still obliged to comply with the
provisions of the JSE Listings Requirements and issue update reports to the JSE on the status of the affairs of
the issuer. The JSE engages with the issuers regularly to establish whether there is any prospect of the
suspension being lifted and whether any value could be returned to investors (in the case of liquidation).
Where the JSE has received confirmation that no value will be returned to shareholders or there is no
reasonable prospect of the suspension being lifted, it will only then consider the removal of the listing of the
issuer.

Process

Before the listing of an issuer is removed from the JSE, the JSE must pursuant to the provisions of the Financial
Markets Act No. 19 of 2012 and the JSE Listings Requirements follow due process and:

    *     inform the issuer of its intention to remove the listing;
    *     provide the issuer with reasons for the intended removal of the listing; and
    *     call upon the issuer to show cause, within a period specified by the JSE, as to why the removal of listing
          should not be effected.

After engagement with the above mentioned issuers, the JSE followed the above due process and provided all
the issuers with an opportunity to make written representations to the JSE as to why the removal of the issuers
should not be effected.

After a decision of removal was made by the JSE, issuers were notified and no objections to the removal of
their listings were received and accordingly the JSE will commence with the removal of the listings.

Shareholders are therefore advised that the listings of the respective issuers will be removed from the
commencement of business on Monday, 21 August 2017 and that shareholders will remain shareholders in
unlisted companies.

Accordingly, the last day to trade will be Tuesday 15, August 2017, and the record date will be 18 August 2017.

04 August 2017

Date: 04/08/2017 04:00:00 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.

Share This Story