JCI Limited, a finance and development house, invests in mining opportunities in Africa. It invests in diamonds, gold, and platinum mining activities. The company was formerly known as Consolidated African Mines Limited and changed its name to JCI Limited in July, 2002. JCI Limited was founded in 1997 and is based in Morningside, South Africa.
10 Benmore Road
Founded in 1997
JCI To Be Delisted From JSE
Mar 26 13
JCI Ltd. announced that as a consequence of the reduction of JCI’s indirect shareholding in Boschendal (Proprietary) Limited from an effective 62.67% to 49%, JCI would no longer control the majority of its assets and, as a result, it would no longer be in compliance with Paragraph 4.28(d) of the JSE Listing Requirements, and that this may result in the delisting of JCI. Following completion of the Transaction and in response to the JSE’s request for JCI to justify its continued listing on the Exchange, JCI acknowledged in a formal response to the JSE that whilst JCI had addressed one of the reasons for its suspension, by publishing annual financial statements for the financial years ended 31 March 2005 to 31 March 2012, JCI did not publish these financial results in compliance with Paragraphs 3.16, 3.19(b), 3.20 and 8.62 of the Requirements. Notwithstanding that JCI brought the publication of its annual results up to date and is confident that it would be in a position to comply with the remaining Section 3 Requirements, JCI is of the view that it did not and would in future not meet the requirements in terms of Paragraph 4.28 of the Requirements having regard to the Transaction and the concomitant result of no longer having a controlling interest in its principal asset, Boschendal (reducing its shareholder interest from 62.67% to 49%). The JSE has notified JCI that it has carefully considered all the facts and information at its disposal and has decided to proceed with the termination of JCI’s listing in terms of Section 13(1) of the Securities Services Act and Paragraph 1.11 of the Requirements, as a consequence of JCI’s non-compliance with the Requirements as set out and described above. Accordingly, this announcement advises Shareholders that, following its suspension since August 2005, JCI’s listing is to be terminated. Shareholders should note that after the delisting they will remain Shareholders in the unlisted Company. As JCI is being delisted in terms of Paragraph 1.1 of the Requirements and not in terms of Paragraph 1.14 of the Requirements, there will be no offer to Shareholders. Post the delisting, JCI will continue dealing with the outstanding legal matters, consider all opportunities to return maximum shareholder value and continue winding-down the Company’s business in an orderly manner to realise the most benefit for Shareholders. Last day to trade over the counter is 5 April 2013. Record date for delisting is 12 April 2013 delisting date at commencement of trade 16 April 2013.
Jci Limited Announces Resignation Of Leslie Arthur Maxwell, Director
Mar 15 13
Jci Limited announced that Mr. Leslie Arthur Maxwell has advised the board of his resignation as a Director of the company with effect from 14 March 2013.