The City of Ekurhuleni Metropolitan Municipality faces the threat of having its securities suspended on the Johannesburg Stock Exchange (JSE) after failing to submit its annual financial statements on time.<\/p>\n\n\n\n
The JSE issued an alert on Monday (2 February), warning holders of the city’s debt securities that they could be suspended and deregistered.<\/p>\n\n\n\n
It noted that the city failed to submit its annual financial statement within the seven-month period stipulated in the JSE’s debt and specialist listings requirements.<\/p>\n\n\n\n
“Accordingly, holders of debt securities are warned that…the listing of the issuer’s debt securities and the registration of their placing document is under threat of suspension and possible removal.”<\/p>\n\n\n\n
The JSE has now put the city on notice, giving it until 28 February 2026 to submit the required information before further action is taken.<\/p>\n\n\n\n
“If the issuer still fails to submit their financial information, then the registration of the Issuer’s placing document and the listing of the Issuer’s debt securities may be suspended,” it said.<\/p>\n\n\n\n
BusinessTech asked the city for comment on the notice and an update on the filing of its financial information, and will add it to the article once received.<\/p>\n\n\n\n
In terms of the JSE’s listing requirements, issuers need to submit their financial statements within four months after the end of every financial.<\/p>\n\n\n\n
However, state-owned entities and municipalities are given an extended window of seven months after the end of each financial year.<\/p>\n\n\n\n
Issuers must also publish a notice of availability announcement on SENS at the same time as the audited annual financial statements or interim financial statements are submitted to the JSE.<\/p>\n","protected":false},"excerpt":{"rendered":"
The JSE has issued a suspension warning to the City of Ekurhuleni Metropolitan Municipality after the city failed to submit its annual financial statements on time.<\/p>\n","protected":false},"author":10,"featured_media":829194,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[20284,175],"class_list":["post-849594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ekurhuleni","tag-jse"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/849594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=849594"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/849594\/revisions"}],"predecessor-version":[{"id":849606,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/849594\/revisions\/849606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/829194"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=849594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=849594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=849594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}