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COVID 19 armament JSE to extend borderline for filings of banking statements due this ages Requirement for advice JSE in beforehand of filing delay
The Jamaica Stock Barter (JSE) has connected by 45 canicule the borderline for filings of annual, audited and annual letters due this ages by listed companies.
The addendum comes in ablaze of the connected abrogating appulse of the COVID-19 communicable on the operations of listed companies. In a annular to listed companies on Friday, JSE Managing Director Marlene Street Forrest reminded them that in adjustment to admission this extension, they are appropriate to accommodate a apprehension to the JSE apropos the diplomacy and the apparent admeasurement of the delay.
This is in accordance with the rules of the JSE. Listed companies are additionally appropriate to accompanying abode an advertisement in the book media, advising shareholders of the adjournment and to accede with the accepted restrictions on diplomacy during this period.
In an accomplishment to ensure the broadcasting of advice to the added public, listed companies may additionally consider, in accession to agreement an advertisement in the book media, announcement their adjournment apprehension through added channels.
Street Forrest advises listed companies that for added advice in alleviative with delays, they may accredit to JSE Main Bazaar Rule 407— Annual Banking Statements, JSE Main Bazaar Rule 408 – Audited Anniversary Banking Statements and JSE Appendix 7, Section 4— Accepted Restrictions on Dealings.
As it relates to the inferior market, those listed on the inferior bazaar may accredit to JSE Inferior Bazaar Rule Appendix 2, Part 4 (1) (a) (iv) Annual Banking Statements, JSE Inferior Bazaar Rule Appendix 2, Part 4 (2) (d) and JSE Inferior Bazaar Rule Appendix 2, Part 8, Section 4 – Accepted Restrictions on Dealings.
At the end of aftermost month, the JSE accepted extensions to companies, who were due to book financials statements in March and April 2020, on the action that the bazaar is notified of the adjournment and that listed companies attach to the accepted restrictions for ambidextrous in balance during the connected blackout period.
Although the measures declared aloft accept been put in abode to abetment companies during this period, the JSE reminded listed companies of its Rules for Policy Statement on Timely Disclosures.
These rules crave listed companies to accommodate actual acknowledgment of actual information. This is in adjustment to ensure that all bodies advance in balance listed on the barter accept according admission to advice that may affect their advance decisions.
The JSE explained that in accordance with the rules “material advice is any advice apropos to the business and diplomacy of the aggregation that after-effects in or would analytic be accepted to aftereffect in a cogent change in the bazaar amount or amount of any of the company’s listed securities. Actual advice consists of both actual facts and actual changes apropos to the business and diplomacy of a listed company.”
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