The fallacy in the JSE granting extension to companies to file annual reports a month and a half after they are, without requiring them to file the interim in the meantime, is one more exposed.
RJR shareholders deserve better.
In a notice to the Jamaica Stock Exchange on June 29, Radio Jamaica advised that they were making use of the general extension being allowed for companies with the financial year ending March 31, 2021, to report their annual audited results by July 14, 2021. This extension assists the management and auditors in managing the ongoing challenges on regular business activities posed by the COVID-19 pandemic, the advice stated. At near midnight on July 15, the report is nowhere to be found on the exchanges’ website and there I no notice indicating the reason for the lateness.
Had good sense prevailed at either RJR of the JSE, investors in a major listed company would have had interim figures to digest. The JSE needs some major surgery and fast.