JSE to keep print announcements
JSE CEO Nicky Newton-King said the proposal to allow companies to use online platforms for announcements, such as cautionary statements, as an alternative to publication in print media, had not been supported by a large number of listed companies.
"Most of our peer exchanges globally don't have a requirement to publish announcements in the media. We consulted widely on whether to change this. It was remarkable how big the support was to continue with the current requirements."
Many CEOs, prominent business leaders and Business Day readers made representations to the JSE.
"The support for the print media and the importance with which it is viewed at this time in the country's history was wonderful.
"We have taken this feedback into account and decided not to go ahead with amending the listing requirement at this time," she said.
The MD of media at TisoBlackstar, owner of Business Day, Andy Gill said the company was pleased with the decision. "We remain committed to ensuring that we cover business, companies and corporate SA in depth and without prejudice. Business Day and the business media in general are great tools for companies to market themselves directly to investors," he said.
Business Day editor Tim Cohen said: "This is very welcome recognition of the importance of the fourth estate and demonstrates the business community's commitment to support the press."
Source: Business Day