The Johannesburg Stock Exchange (JSE) has publicly censured gold miner AngloGold Ashanti plc. The exchange said the company broke its listing rules by posting key financial results on Sens 27 minutes late.
The JSE set out its finding in an official regulatory notice published on Friday, Moneyweb reported. AngloGold Ashanti has its main listing on the New York Stock Exchange (NYSE).
According to the JSE, the company failed to release its results at the same time on all exchanges. These were its second quarter and six month results, along with a dividend declaration, on 1 August 2025.
“The requirement for simultaneous disclosure on Sens and other exchanges is fundamental to the principles of fairness, transparency and market integrity underpinning the Listings Requirements,” the JSE said.
Sens is the JSE’s news service for company announcements. The rule in force at the time was paragraph 18.21(b) of the JSE Listings Requirements.
Under that rule, companies listed on more than one exchange must publish price sensitive news on Sens at the same time as abroad. They may not release it on Sens any later than on foreign exchanges.
The JSE said it opened an investigation after an outside party alerted it to the problem. That party said the results had appeared on Bloomberg 24 minutes before they were posted on Sens.
The JSE was open for trading while the results were being shared on several international platforms. Local investors had not yet received them.
AngloGold Ashanti told the JSE that it was not possible to release the results on both exchanges at the same time, or nearly the same time.
The JSE did not accept this. After a formal investigation, it found that following the rule was “reasonably achievable”.
The exchange pointed to the NYSE trading hours on that day. The NYSE pre-opening session only started at 12:30pm, and core trading began at 3:30pm.
This meant local investors traded on the open JSE market for 27 minutes while the information was already available abroad, the JSE said.
“Timely and equivalent dissemination of information ensures that all investors, irrespective of their location or the exchange through which they access information, have equal and simultaneous access to such information,” the exchange said.
The JSE also explained the risks of late releases. “Any delay in releasing information or releasing it on one exchange before another, could result in a risk that some investors receive the information before others,” it said.
“This can lead to trading taking place on the basis of information that is not yet available to the wider market. Such situations undermine confidence in the market and its fairness,” the JSE added.
Source: this article is based on reporting by Moneyweb. Image: Moneyweb. Written with the help of AI and published by the Tzaneen Voice Business desk. See our Editorial Standards.
Anelisa Nkuna covers business and money news for Tzaneen Voice. Anelisa reports on the rand, fuel prices, interest rates, jobs, Eskom, Transnet, farming and company results. The aim is simple: explain what the numbers mean for household budgets, small businesses and workers in South Africa.