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

JSE LIMITED - GEN Removal of listings on The JSE STA/WCC

Release Date: 13/07/2018 15:00
Code(s): JSER     PDF:  
Wrap Text
GEN – Removal of listings on The JSE STA/WCC

GEN – REMOVAL OF LISTINGS ON THE JSE

 1   STRATCORP LIMITED
     ALPHA CODE: STA
     ISIN: ISIN: ZAE000034294
     Suspended: 28 November 2016

 2   THE WATERBERG COAL COMPANY LIMITED
     ALPHA CODE: WCC
     ISIN: AU000000WCC9
     Suspended: 19 March 2015

The JSE recently advised the above Issuers that it was considering the removal of the respective listings of the
Issuers at the instance of the JSE pursuant to the provisions of paragraphs 1.11 and 1.12 of the JSE Listings
Requirements.

The above Issuers are currently suspended due to various reasons of non-compliance with the JSE’s Listings
Requirements.

Although the above Issuers have been suspended, each Issuer is still obliged to comply with the provisions of
the JSE Listings Requirements and issue updated 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 may be 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 –

     -      inform the Issuer of its intention to remove the listing;
     -      give the Issuer the reasons for the intended removal of listing; and
     -      call upon the Issuer to show cause, within a period specified by the JSE, 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, the Issuers were notified and no objections to the removal of
their listings were received and 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, 23 July 2018 and that shareholders will remain shareholders in
unlisted companies.

Accordingly, the last day to trade will be Tuesday, 17 July 2018 and the record date will be Friday, 20 July 2018.
13 July 2018

Date: 13/07/2018 03:00:00 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