THE JSE HAS AMENDED ITS RULES REGARDING PROSPECTUS
(KINGSTON, December 1, 2009): The Jamaica Stock Exchange (JSE) has amended rules 404 and 502 for its Main Market and Junior Market respectively, in regards to the issuing of prospectus.
Previously, companies issuing shares to the public were required to publish their prospectus or documents in a national newspaper. However, the JSE in its attempt to rationalize its rules and assist companies coming to market to offset some of their cost has amended these rules.
The amended rules now require companies issuing shares via a prospectus or other documents, to upload the document to the JSE website and publish a notice in a national newspaper in daily circulation in Jamaica, informing prospective shareholders where to find the document.
This move, according to General Manager of the Jamaica Stock Exchange, Mrs. Street Forrest is geared towards assisting companies coming to market to contain their cost, especially in this very difficult environment. Mrs. Street Forrest emphasized that companies coming to market are faced with several costs and whatever can be done to contain cost, should be done once this does not compromise prospective shareholders receiving adequate information.
Copies of the amended rules can be seen on the JSE’s website at www.jamstockex.com
