JSE reprimands PBT Group’s company secretary

2019/09/03 18:40:00

JSE reprimands PBT Group’s company secretary

JSE reprimands PBT Group’s company secretary

PBT had not received the necessary board resolutions to repurchase company shares during the period under review

reprimanded by the JSE on Tuesday for breaching its listing requirements. “The JSE has decided to impose this public censure against Ms Pieters, in her capacity as the company secretary of PBT,” the local bourse said. Company secretaries are appointed by a board of directors and are responsible for ensuring that company’s obligations under the corporate legislation are complied with. 

Censures are meant to deter breach and reprimand wrong-doers for regulatory breaches. The JSE said the firm’s AGM notices from 2014 to 2018 included in the company’s integrated reports “did not contain the necessary disclosures required for a general authority to repurchase shares resolution in terms of the JSE Listings Requirements”.

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Data specialist group PBT’s company secretary, Bianca Pieters, was reprimanded by the JSE on Tuesday for breaching its listing requirements.Purchasing managers’ index beat market expectations and rose to a five-month high in August, helping to lift Asian markets 02 September 2019 - 07:41 karl gernetzky Picture: 123RF/SOLARSEVEN Some optimism over the US-China trade war and upbeat Chinese economic data lifted Asian stocks on Monday morning, boosting chances that the JSE will extend last week’s 2.02 September 2019 - 10:58 Odwa Mjo Picture: MARTIN RHODES The JSE was lower on Monday morning, with miners under pressure,while trading is likely to be subdued as the US markets break for the labour day public holiday.Emerging markets rarely this bad in August   Local equities got off to a slow start for the week as they closed softer on Monday on the back of broad-based losses led primarily by the resources index.

  “The JSE has decided to impose this public censure against Ms Pieters, in her capacity as the company secretary of PBT,” the local bourse said.  Company secretaries are appointed by a board of directors and are responsible for ensuring that company’s obligations under the corporate legislation are complied with. A private Chinese manufacturing purchasing managers’ index earlier rose unexpectedly to 50.  Censures are meant to deter breach and reprimand wrong-doers for regulatory breaches. Hong Kong's Hang Seng was down 0.  The JSE said the firm’s AGM notices from 2014 to 2018 included in the company’s integrated reports “did not contain the necessary disclosures required for a general authority to repurchase shares resolution in terms of the JSE Listings Requirements”. There is also some optimism over the US and China returning to the negotiating table, despite the imposition by the US of a 15% duty on $110bn worth of Chinese goods at the weekend. The JSE said PBT, which provides a range of business intelligence solutions and has a market capitalisation of R21. The Nikkei and Hang Seng fell 0.

5m, had not received the necessary board resolutions to repurchase company shares during the period under review. A flurry of local and international economic releases are due this week, including SA’s second-quarter GDP numbers on Tuesday, and US nonfarm payrolls numbers on Friday.  At 10.  “The role of a company secretary, among other things, is to provide directors with guidance in their duties, responsibilities and powers, and to make directors aware of all laws and regulations relevant to the company. The company secretary takes responsibility for preparing the annual report and ensuring that statutory and regulatory disclosures are validated.07% on Monday morning while the Shanghai composite advanced 1.” Pieters is not the only company executive to be penalised by the JSE.2%. In 2016, it publicly censured Redefine Properties’ executive director Mike Ruttell around his trading of company shares. The rand was flat at R15.24/$.

  A number of listed companies have also been censured in the past, such as WG Wearne and Visual International, which had their shares suspended in 2018 for failing to meet the bourse’s financial reporting deadline. . Gold had added 0.98%.