Johannesburg – AngloGold Ashanti has been publicly censured by the Johannesburg Stock Exchange (JSE) after the gold producer delayed the release of price-sensitive financial information on the local exchange by 27 minutes.
The matter relates to the company’s 1 August 2025 announcement containing its second-quarter and six-month financial results and dividend declaration. AngloGold Ashanti’s own JSE SENS archive confirms that the announcement was issued on that date.
According to Daily Investor, the announcement was distributed through BusinessWire at 12:07pm, published on AngloGold Ashanti’s website at 12:10pm and filed with the US Securities and Exchange Commission at 12:22pm.
It was only published on the JSE’s Stock Exchange News Service (SENS) at 12:34pm, creating a 27-minute gap between the initial release and its appearance on the local exchange.
Moneyweb reported that the JSE launched an investigation after an external party alerted the exchange that the information had appeared on Bloomberg before it was published on SENS.
The JSE said dual-listed companies were required to release price-sensitive announcements on SENS at the same time as, or no later than, their release on foreign exchanges.
The exchange found that simultaneous disclosure was “reasonably achievable” and concluded that AngloGold Ashanti had failed to comply with the requirement.
Market fairness
The JSE said the requirement for simultaneous disclosure was fundamental to “fairness, transparency and market integrity”.
“Timely and equivalent dissemination of information ensures that all investors, irrespective of their location or the exchange through which they access information, have equal and simultaneous access to such information,” the exchange said.
It warned that releasing information on one exchange before another could allow some investors to trade on information that had not yet reached the wider market.
“Such situations undermine confidence in the market and its fairness,” the JSE said.
The exchange therefore imposed a public censure on AngloGold Ashanti.
The company is primarily listed on the New York Stock Exchange and has a secondary listing on the JSE. Its own investor website provides information on its NYSE and JSE listings, while its 2025 financial-results archive records the 1 August 2025 second-quarter results release.
The case highlights the disclosure obligations facing companies listed on multiple exchanges, particularly when price-sensitive financial information is being released while one of those markets is open for trading.
Websites used: Daily Investor, Moneyweb and AngloGold Ashanti’s official investor website, including its JSE SENS and financial-results archives.
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Compiled by Betha Madhomu
