[Last updated: 1 February 2026, unless otherwise noted]

All issuers are required to comply with the continuing obligations described in this section. If there is any conflict between the JSE Listings Requirements and any applicable laws, the JSE Listings Requirements must be adhered to unless specifically otherwise directed by such laws or a court of law.

Announcements: The JSE has established the Stock Exchange News Service (SENS) platform to ensure that relevant company information is disseminated to the market on a real-time basis. Announcements must be in English, comply with Appendix 1 to section 6 of the new Listings Requirements and must be approved by the issuer's sponsor prior to release.

General obligation of disclosure & price sensitive information: With the exception of trading statements, an issuer must, without delay, unless this information is kept confidential for a limited period of time, release an announcement providing details relating directly or indirectly to such issuer that constitutes price sensitive information. However, issuers may disclose inside information in limited circumstances in terms of the Financial Markets Act. "Inside information" is specific or precise information, which has not been made public and which (i) is obtained as an insider and (ii) if made public, would likely have a material effect on the price or value of the issuers securities, in limited circumstances.  Other than as aforesaid, information that is required to be announced must not be disclosed until announced. Immediately after an issuer becomes aware of any price sensitive information and the necessary degree of confidentiality cannot be maintained, or the issuer suspects that confidentiality has or may have been breached, the issuer must immediately publish a cautionary announcement.

Trading statements: A listed company must publish a trading statement as soon as it is reasonably certain that the results for the relevant reporting period will differ by at least 20% from its most recent profit forecast previously published in relation to such period or the published results for the previous corresponding period.  Financial results measurements for trading statement purposes are headlines earnings per share and earnings per share. If more relevant for the issuer’s business, it may adopt net asset value per share, but this election must be announced in advance of the first measurement period. Trading statements must provide specific guidance by including the period to which it relates and the comparative numbers for the previous published period.  They must also include a specific percentage and number (or range of percentage and numbers) to describe the differences.

Dividends: The declaration of dividends by listed companies should be announced immediately or simultaneously with the results announcement. If the issuer decides not to declare any dividends and that decision is deemed to be price sensitive, the decision not to declare or make any such payment must be announced immediately after the decision has been taken.

Restatement of previously published results: Where an issuer restates previously published results, it must submit a restatement notification to the JSE with the details of the restatement and the reasons for the same, if such restatement impacts earnings per share, headline earnings per share and/or the amounts presented in the statement of financial position, profit or loss and other comprehensive income, changes in equity and/or cash flows. The issuer must submit a restatement notification to the JSE when submitting its annual financial statements and annual compliance certificate.

Interim and quarterly results: A listed company must ensure that its interim results are published through the SENS by no later than three months after the end of the first six-month period of the company's financial year and a 12 month period commencing on the first day of a financial year if the listed company has changed its year end (consequently resulting in a financial year longer than 12 months). In the case of listed companies that elect to voluntarily report to shareholders on a quarterly basis, the quarterly reports must be published through SENS as soon as possible after each quarter. Quarterly reporting does not negate the required release of the interim results.

Auditor’s Report: Where the issuer is a South African company, the issuer's auditor must audit the company's annual financial statements and the separate annual financial statements, in accordance with the International Standards on Auditing. In the case of a foreign company, the issuer's auditors must audit the annual financial statement in accordance with national auditing standards acceptable to the JSE. In addition, a listed company's auditor must audit the listed company's condensed financial statements and interim results in accordance with the International Standard on Review Engagements or national standards acceptable to the JSE (in the case of a foreign listed company).

The release of condensed financial statements, summary financial statements, annual financial statements, annual reports, interim results or quarterly results without the requisite auditor’s report is strictly not permitted. Further, a listed company runs the risk of its listing being suspended for a failure to comply with the required publication of annual or interim results within the stipulated periods.

Annual financial statements: Within three months after the end of each financial year, an issuer on the prime segment of the Main Board must release a results announcement dealing with either condensed financial statements or annual financial statements / summary financial statements through the SENS. This requirement is not applicable to issuers on the general segment of the Main Board. Within four months of the end of each financial year and at least 15 business days before the annual general meeting, every issuer (whether on the prime or general segment) must release the annual report through a results announcement and deliver notice to shareholders of the annual general meeting together with a weblink to the annual report.

14 days after failing to comply with the requirement to release a results announcement and/or on the first day after failing to release the annual report or deliver notice in respect of the annual general meeting, the listing will be annotated on the trading system with a "RE" to indicate a failure to comply and the JSE will release an announcement advising that the issuer has not submitted results and cautioning holders of securities that the listing will be suspended at the end of that month.

Directors: An issuer must announce any change, including the effective date, in respect of the following as soon as practically possible:

• The appointment of a new director or company secretary.
• The resignation, removal, retirement or death of a director or of the company secretary.
• Changes to any important functions or executive responsibilities of a director, which includes changes to board sub-committees.

In the announcement, the board must confirm that a fit and proper assessment has been undertaken on the director and that the board is satisfied with the outcome. If the effective date is not known, it must be disclosed in the announcement and announced once known. All newly appointed directors must complete a director’s declaration on appointment, in terms of Schedule 1 of the Listings Requirements – to be submitted to the JSE within 14 days of such appointment. The issuer must likewise make an announcement in respect of the positive statements contained in such declaration. The issuer must be notified of and announce, any changes to the integrity of this information.

A listed company must announce details of all transactions in securities relating to the company by or on behalf of:

• The directors, company secretary or a prescribed officer of the issuer.
• The directors and company secretary of a major subsidiary of the issuer.
• Each associate of the above persons.

The above persons may not deal in any securities relating to the issuer (i) during a prohibited period (a closed period or a period where price sensitive information exists in respect of the issuer), irrespective of whether such person has knowledge of price sensitive information, or (ii) without clearance to deal being received in advance from the chairman or other designated director.

Transactions: A listed company is required to publish an announcement, or publish an announcement together with a circular seeking shareholder approval, detailing the terms of any proposed acquisitions and disposals by that listed company or its subsidiaries, depending on the value of the transaction (determined by assessing the size of the transaction relative to the market capitalization of the listed company proposing to make it).

Disclosures of beneficial interests in securities: Issuers must establish and maintain a register of all disclosures of beneficial interest holders as prescribed in terms of the Companies Act. Further, if an issuer has received a notice regarding share dealings of a multiple of 5% as required by the Companies Act, it must announce the share dealing in the prescribed manner within 48 hours of receiving such notice. Irrespective of whether the share dealing crosses a threshold of a multiple of 5%, no such announcement is required if it relates to disposal of less than 1% of the relevant securities.

Secondary listings: For a company that has a secondary listing on the JSE, the JSE will allow the disclosure requirements of the exchange where it has a primary listing to take precedence, subject to the following exceptions:

• The annual financial statements and any other communication with shareholders must state where the primary and secondary listing of the company's securities are.
• When the company wishes to release any information on another exchange it must ensure that the information is also simultaneously released on the JSE or at commencement of business on the next business day, if the JSE is closed.
• The company must publish, in its interim and year-end results, headline earnings per share and diluted headline earnings per share together with an itemized reconciliation between headline earnings and the earnings used in the calculation.
• Interim and year‑end results must be prepared and announced in compliance with the acceptable accounting framework recognized by the issuer's primary exchange.
• Any notifications relating to changes in beneficial ownership, or dealings in securities by directors or their associates (as required by statute or the primary exchange's rules), must be announced on the JSE within 48 hours of receiving such notice.
• Issuers must comply with the JSE's corporate action timetables and notify the JSE in advance to ensure that the JSE can accommodate the processing of these corporate actions for shareholders on the South African share register.
• The issuer must notify the JSE and release an announcement of any suspension or removal of listing on any other exchange on which it is listed.