Loading...
See More

Telkom may have broken JSE rules - report

Oct 01 2012 08:16 Sapa

Company Data

TELKOM SA SOC LIMITED [JSE:TKG]

Last traded 51.10
Change 1.13
% Change 0.02
Cumulative volume 1916561
Market cap 26.61bn

Last Updated: 20/10/2014 at 04:30. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Telkom boss rejects resignation claims

Telkom issues profit warning

Commission wants steeper Telkom fine

Zim to retire as Telkom chairperson

Telkom to appeal Competition Tribunal fine

Telkom losses stack up

 

Johannesburg - Telkom [JSE:TKG] may have broken JSE listing rules when it did not notify its shareholders that two of its directors would retire from the board this month, according to Monday's Business Report.

The two, Jackie Huntley and Julia Hope, would be retiring after Telkom's annual general meeting (AGM) on October 24.

Shareholders only became aware of this when they received their AGM notices last week, the newspaper reported. Analysts said the delay in notification did not meet Johannesburg Stock Exchange requirements.

According to the AGM notices Huntley and Hope had not made themselves available for re-election.

This meant that three of the five government-appointed directors on the Telkom board would be retiring in October.

Board chairperson Lazarus Zim announced his retirement last month.

Section 3.59 of the JSE listings requirements states that a company must notify the JSE of the retirement of the director "without delay and not later than by the end of the business day following the decision".


*Follow Fin24 on TwitterFacebookGoogle+ and Pinterest

 
telkom  |  lazarus zim
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...