Connect with us

Business

SEM hits back (again) and warns of legal actions to ‘protect its reputation’

Published

on

Further to the publication of two articles in l’Express over alleged suspicious practices around the listing of Regis Holdings, the Stock Exchange of Mauritius Ltd (SEM) has hit back with further clarifications, but this time, toughening the tone.

“The SEM will not give any credence to misrepresentations that may be published in future on the above subject matter and reserves the right to take any legal actions that it deems necessary to protect its reputation,” it has said.

The SEM stated that 10,000 shares were traded on March 29, 2019, i.e. on the first day of listing of Regis Holdings. The SEM maintains that 10,000 shares have effectively been traded on that day.

“Notwithstanding that the shares of Regis Holdings were traded on October 9, 2019, the SEM reiterates that the shares of the company were also traded on March 29, 2019, as attested by the Market Datasheet that the SEM publishes on a daily basis…”

It also pins down the article of July 19, where L’Express “had been categorical” that Regis Holdings had never published any audited accounts.

“Following SEM’s rebuttal of this misrepresentation of facts, L’Express now mentions that the SEM has granted an extension to Regis Holdings for the publication of its 2020 audited accounts. The SEM (…) has granted such extensions to other listed companies with regards to the publication of their accounts when these requests were duly motivated.”

“Consistent with common practice among stock exchanges at global level, the SEM has over the years reviewed its Listing Rules to cater for the varying needs of listed entities. Hence, all Global Business Companies seeking a listing on the SEM have to comply with Chapter 18 of the Listing Rules which provides certain flexibilities as opposed to Chapter 6 of the Listing Rules.”

Bookmark(0)

No account yet? Register

Spread the News
The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.
Click to comment

Leave a Reply

Your email address will not be published.

The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.

Can you support?

Dear Reader,

NewsMoris is a media service that is dependent on support from its readers in the form of subscriptions.

As a startup that was born in and faring through challenging times like these, we need your support now more than ever.

Subscribing for as little as USD10/month is the best way you can support our efforts.

Thank you.