Johannesburg, 04 May 2022 – The Johannesburg Stock Exchange (JSE) is pleased to announce that the Financial Sector Conduct Authority (FSCA) has approved amendments to the JSE listings requirements, which will reduce red tape and create an enabling environment for companies listed on the bourse.  

The amendments, which will come into effect on 1 June this year, are a culmination of a comprehensive consultation process with market participants and the FSCA aimed at achieving a level of effective and appropriate regulation for companies listed on the JSE’s Main Board and Alternative Exchange (AltX).

“The global regulatory landscape continues to evolve and it is important that we engage market participants and ensure that we amend the JSE’s listing requirements so that we strike a balance between the regulatory responsibilities of the JSE as well the obligations placed on listed companies by the JSE. As we have done in the past, we will continue to focus on cutting red tape measures through engagement with our stakeholders to enhance the regulatory experience of our market as we ensure the protection of investors,” says Andre Visser, JSE’s Director for Issuer Regulation.

Important enhancements have been made that will afford issuers with more flexibility when undertaking certain corporate actions and transactions. These measures will result in significant regulatory and cost relief for issuers, however still recognising the importance of protecting investors through appropriate safeguards. The measures, to name a few, apply to ordinary course of business transactions and intragroup repurchases where the preparation of circulars and shareholders’ approval will no longer be required under certain circumstances. Capital raising measures have been expanded to allow material shareholders, as natural contributors of capital, to participate in more capital raising initiatives utilising a bookbuild process. Furthermore, the events requiring the preparation of revised listing particulars, at significant costs to issuers, have also been reduced.

“The JSE is confident that the amendments are fit for purpose; create an enabling regulatory environment and appropriate level of regulation that will ensure a fair, efficient, and transparent financial market. The amendments have also been aligned with international standards and benchmarks,” concludes Visser.

The new provisions to the JSE Listings Requirements are available on the JSE’s website:

https://www.jse.co.za/regulation/companies-issuer-regulation

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ABOUT THE JSE

The Johannesburg Stock Exchange (JSE) has a well-established history operating as a regulated marketplace for trading listed securities. The JSE is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent.

The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for over 130 years.

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