Urgent Legal Action Seeks Full Publication of Withheld SENS Announcement
Mantengu Mining Limited has instituted urgent proceedings in the Gauteng High Court, seeking an order compelling the Johannesburg Stock Exchange to publish, in full, on the Stock Exchange News Service platform, an announcement submitted to the JSE for release Mantengu says is in compliance with its obligations under the JSE Listings Requirements to inform the market of price sensitive information.
Price-Sensitive Announcement Highlights Defamation Case and Financial Risks
The announcement sought to be published contains material, price-sensitive information regarding ongoing defamation litigation, potential financial exposure, and developments of significance to Mantengu’s shareholders and the investing public at large.
JSE’s Proposed Edits Could Mislead Shareholders
Despite Mantengu being of the firm belief that the announcement is compliant with the JSE Listings Requirements, the JSE has declined to release it in the form submitted, proposing extensive excisions which, in Mantengu’s view, would deprive shareholders of crucial context, render the disclosure incomplete and create a misleading impression regarding the Company’s position.
Withholding of Announcement Undermines Market Disclosure Principles
Mantengu submits that the withholding of the announcement by the JSE, or its publication in truncated form, undermines the principles of full, equal, and timeous disclosure enshrined in the General Principles of the JSE Listings Requirements.
Court Intervention Sought to Ensure Timely and Fair Market Disclosure
In the premises, immediate judicial intervention has been sought in order to ensure that shareholders and the broader market receive the information to which they are entitled via the regulated SENS platform, which ostensibly ensures simultaneous and non-discriminatory dissemination of information to the market.
Company Reaffirms Commitment to Transparency and Protecting Investors
Mantengu remains steadfast in its duty to its shareholders, standing firm in its unwavering commitment to absolute transparency and the vigilant protection of investor interests. The Company is confident that pursuing this matter is essential in order to uphold market integrity and ensure that shareholders and the investing public receive accurate information through the appropriate channels.
Importance of Transparency and Accurate Market Disclosure
The case highlights the importance of transparency and timely disclosure in financial markets. Ensuring that all shareholders and the investing public have access to complete and accurate information is crucial for maintaining trust and integrity within the market. Companies are expected to comply fully with listing requirements, and regulatory bodies play a key role in safeguarding fair and equal dissemination of price-sensitive information.
Legal Action Seeks Full Disclosure of Price-Sensitive SENS Announcement
Mantengu Mining Limited has initiated urgent legal proceedings in the Gauteng High Court, seeking an order compelling the Johannesburg Stock Exchange (JSE) to publish, in full, a previously submitted SENS announcement. The company asserts that the withheld announcement contains material, price-sensitive information regarding ongoing defamation litigation, potential financial exposure, and developments of significance to its shareholders and the investing public.
Despite the company’s belief that the announcement complies with JSE Listings Requirements, the JSE has declined to release it in its entirety, proposing extensive excisions that Mantengu contends would deprive shareholders of crucial context and create a misleading impression regarding the company’s position. As a result, immediate judicial intervention has been sought to ensure that shareholders and the broader market receive the information to which they are entitled via the regulated SENS platform, which ensures simultaneous and non-discriminatory dissemination of information to the market. For more details, refer to the official SENS announcement: Mantengu takes JSE Limited to the High Court of South Africa.**
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