Tamela JSE Listings Requirements
and Related Regulatory Guideline and Notes

 
Foreword

Tamela Holdings Proprietary Limited (“Tamela”), founded in 2008, is a financial services group with activities in corporate finance, fund management and principal investments. We thank all our clients who have supported us over the past twelve years.

The events of the past year would have been unimaginable a year ago and their impact on business would likely be appreciated in the fullness of time. The global Covid-19 pandemic has required policy makers and regulators to respond with unusual agility to create an enabling environment for companies to cope with the effects of the pandemic. In the context of corporate South Africa, this agility has included the FCSA, the JSE and the SARB providing temporary dispensation to compliance with, amongst others, periods for publication of financial results and minimum capital requirements.

Understanding the JSE Listings Requirements and related regulations is a key building block of corporate activity for listed entities and those that interact with such companies. Transactions are often delayed by unanticipated regulatory hurdles.

It pleases us to present this third edition of the Tamela JSE Listings Requirements and Related Regulatory Guideline and Notes (“Tamela JSE Guide”). This edition is based on JSE Listings Requirements Issue 27 and Covid-19 Guidelines as issued by the JSE in 2020 and is intended to be a supporting and quick reference tool for market participants, company executives and corporate finance practitioners. However, it is not a substitute for the entire JSE Listings Requirements as published by Lexis Nexis South Africa. The Tamela JSE Guide summarises the most important aspects of the JSE Listings Requirements and related regulations applicable to equity issuers.

Recent failures in governance within public and private institutions makes understanding of regulation ever more important. The response of regulators to these failures have resulted in expanded regulation, censure and penalties. We hope that the Tamela JSE Guide will be a useful tool in understanding the regulatory regime for listed companies and anyone considering a listing on the JSE. In a climate of an ever increasing regulatory burden, we hope this Tamela JSE Guide will assist executives navigate the regulatory landscape.

We would welcome any feedback (jseguide@tamela.co.za) n improvements we can make in subsequent editions of the Tamela JSE Guide. The Tamela JSE Guide is also available online (www.tamela.co.za) or through the QR Code below. We thank KAR Presentations for the collaboration on the content of this publication and our publishing partner, Bastion.

Yours faithfully

Tamela Corporate Finance team


Contacts

Amanda Markman
Head of Sponsor Division
amanda@tamela.co.za
+27 11 783 5027

Tshepisho Makofane
Head Corporate Finance
tshepisho@tamela.co.za
+27 11 783 5027

Sydney Mhlarhi
Director
sydney@tamela.co.za
+27 11 783 5027

Tamela is an authorised financial services provider, FSP 42038 and a JSE sponsor.

About Tamela

Tamela founded in 2008 is a leading black-owned and managed corporate finance advisory and JSE equity sponsor company. Tamela has built a niche corporate finance advisory capability over the last twelve years with transactions that have ranged from R100 million to over R20 billion. Tamela’s advisory activities include providing corporate finance advice to selected clients on Listings, Rights Issues, Balance sheet restructuring, Debt Capital Markets (“DCM”), Equity Capital Markets (“ECM”), Black economic empowerment, M&A transactions and JSE equity sponsor services.