Thu | Jan 20, 2022

JSE grants general extension to late filers of audited accounts

Published:Tuesday | March 30, 2021 | 6:46 PM

The Jamaican Stock Exchange, JSE, has granted a general extension of 45 days for listed companies to file outstanding audited financial statements that would have been due by March 31.

It affects companies with fiscal periods ending December, across the junior, main and preference markets. Around 15 ordinary stocks and 2 preference listings are yet to file their audited results, according a Financial Gleaner assessment.

Several of the affected companies have previously filed unaudited fourth quarter results.

The extension comes amid a new round of discrete or ‘soft’ lockdowns of the Jamaican economy being executed over three weeks, as well as market notices from several companies advising of delayed filings, which were mandated by the JSE to file regulator updates on their COVID impacts after the pandemic struck last year, sending the stock market into a tailspin.

In a circular to listed companies announcing the extension, JSE Group Managing Director Marlene Street Forrest said it would only be granted to companies that file notice to the JSE “concerning the circumstances and the probable extent of the delay” in the release of their financial statements.

The rules surrounding the general restrictions on dealings of the affected stocks would also apply to the extended period, Street Forrest said.