General SENS Submitter Company - General Censure imposed by the JSE on Komati Basin Water Authority

General – Censure imposed by the JSE on Komati Basin Water Authority

GEN – General - Komati Basin Water Authority
Censure imposed by the JSE on Komati Basin Water Authority ("KOBWA" or "Issuer")

The JSE hereby informs stakeholders of the following findings in respect of KOBWA:

1.	Stakeholders are referred to the Issuer's SENS announcement dated 23 February 2023 regarding the 
	appointment of Mr. Lucky Charles Mohalaba as a non-executive director of KOBWA, effective 01 
	February 2023.

2.	The provisions of paragraph 6.39(a) of the JSE's Debt Listings Requirements require an issuer to notify 
	the JSE and announce on SENS, any change to the board of directors, the company secretary or debt 
	officer, including the appointment of a new director, without delay and by no later than by the end of 
	the business day following the decision or receipt of notice detailing the change. The Issuer failed to 
	publish the SENS announcement for the appointment of Mr. Mohalaba on 1 February 2023 timeously 
	and the SENS announcement was only published on 23 February 2023.

3.	Accordingly, the JSE found the Issuer to be in breach of the provisions of paragraph 6.39(a) of the Debt 
	Listings Requirements in respect of the late announcement of the appointment of Mr. Mohalaba as a 
	non-executive director of KOBWA.

4.	This is KOBWA's second transgression where it was previously found to be in breach of the Debt 
	Listings Requirements in respect of a late announcement in 2022.

5.	Interest rate issuers are obligated to adhere to the Debt Listings Requirements consistently. 
	Compliance with these requirements serves the broader goals of investor protection and fostering 
	investor confidence. To support the objectives of transparency and maintaining a reliable marketplace, 
	it is crucial that SENS announcements are promptly published within the specified timeframes outlined 
	in the Debt Listings Requirements. This ensures that investors and potential investors receive timely 
	and pertinent information about an issuer. The JSE finds it unacceptable that KOBWA failed to comply 
	with the Debt Listings Requirements, neglecting to promptly publish a crucial SENS announcement.

6.	With reference to the JSE's finding of breach, the JSE has decided to impose this public censure on 
	KOBWA as a result of its failure to comply with the important provisions of the Debt Listings 
	Requirements. 

13 December 2023

Date: 13-12-2023 07:05:00
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