Implications of S-K1300 regulations and disclosures for dual-listed companies on the JSE and NYSE

Background

The SEC’s new regulation S-K1300 for mining property disclosure has affected reporting for mineral companies which are listed on both the NYSE and JSE.

The technical report summary (TRS) for NYSE S-K1300 regulations and SAMREC Competent Person Report (CPR) required to support JSE filings do reflect significant overlap in content but critically the S-K1300 TRS is prescriptive on the inclusion of specific technical and financial information for public disclosure not typically included in a CPR or historic JSE listed company disclosures. A detailed appreciation of the reporting differences and how they impact consistent and equitable reporting for the different jurisdictions is essential.

The intent of the webinar is to facilitate participation and engagement between key stakeholders in an attempt to map out what efficient and effective reporting looks like to satisfy the minimum requirements for compliance while also profiling what industry leading practice looks like. For both reporting jurisdictions it will be important to map out the reporting overlaps, differences, exclusivities and opportunities for convergence and streamlining to reduce the reporting burden on industry. The potential for a customized training program for SSC members and industry practitioners to equip them with an effective working knowledge of the disclosure requirements and reports will also be discussed as part of continuing professional development (CPD) to support industry.

Day 1 will open with various company representatives and QPs who have recently dealt with S-K1300 filings and their experiences. The various JSE representatives will also then discuss challenges faced from the JSE Reader’s Panel and listing requirements perspective.

Day 2 will aim to possibly discuss ways for effective and efficient reporting for both SEC and JSE requirements. Certain key aspects will also be examined including future legal and ESG implications. The workshop in not meant to be official S-K1300 training nor legal interpretation of the laws and regulations, but meant to provide views from the SSC perspective, in order to assist streamlined reporting for local dual-listed companies and QPs.