Company’s 2020 annual report due April 30 will now be submitted on or before June 14

Panjam Investment Ltd has indicated that the company will be taking advantage of the Jamaica Stock Exchange’s (JSE) 45-day extension to submit its 2020 annual report.

Two weeks ago, the JSE gave listed companies with audited financial annual reports and audited financial statements due this month a 45-day reprieve from filing these documents. Having taken advantage of this reprieve, Panjam has advised the JSE, which is the regulator of Jamaica’s stock market, that its 2020 annual report due April 30 would now be submitted on or before June 14. 

PanJam has also advised the JSE that it would place a notice in the print media to its shareholders, indicating the new date for the submission of the annual report and its decision to take advantage of the 45-day reprieve.

The 45-day extension, which was announced by JSE Managing Director Marlene Street Forrest, comes in light of the continued impact of the COVID-19 pandemic on the operations of listed companies.

Requirement for providing notice for the extension

Along with granting the extension, Street Forrest is reminding listed companies that, in order to access this extension, they are required to provide a notice concerning the circumstances and probable extent of the delay to the JSE.

In addition to placing an advertisement in the print media, listed companies are being encouraged by the JSE to also consider posting their delay notice through other channels. This requirement is in accordance with the rules of the JSE.

Guidance for treating with delays

For further guidance in treating with delays, the JSE advised listed companies to refer to JSE Main Market Rule 408 – Audited Annual Financial Statements and JSE Appendix 7, Section 4 – General Restrictions on Dealings. As it relates to the Junior Market, listed companies on this trading platform may reference JSE Junior Market Rule Appendix 2, Part 4 (2) – Audited Annual Financial Statements and JSE Junior Market Rule Appendix 2, Part 8, Section 4 – General Restrictions on Dealings. 

In the last few days, several companies have posted notices on the JSE website indicating that they will be late in filing their quarterly audited financial statements