JSE suspends another company over late financials

Medical Disposables & Supplies Limited (MDS) has become the latest company to have trading in its shares suspended by the Jamaica Stock Exchange (JSE), which continues to see more firms reporting their annual financials late. MDS was suspended effective September 1 until it submits its March 2026 audited financial statements, which were due on May 30. The JSE gives a 90-day grace period to companies with late financial submissions before trading in their securities is suspended.

MDS updated the market on Tuesday, stating: “The delay continues to stem from the unforeseen IT occurrence disclosed in May 2026, which disrupted the company’s accounting records. The restoration and independent validation of the affected historical financial records have proven to be taking more time than originally anticipated.” The company did not explain the IT occurrence which has hampered the completion of its financial statements. The delay in producing its audited financials has resulted in its first quarter report for the period ending June 30 also being late.

MDS expects that its audited financials should be ready by the end of November 2026, six months after the original filing deadline. This means that trading will be suspended for at least the next two months, leaving investors with shares that they cannot trade. “MDS wishes to reassure the JSE, its shareholders and the wider market that the company continues to operate normally at the business level, that there remains no evidence of unauthorised access, cyberattack, fraud, or compromise of customer, employee, or commercially sensitive information, and that the board and management remain fully engaged in overseeing the recovery programme,” MDS added in its update.

MDS becomes the fifth company suspended by the JSE in 2026 for the overdue submission of audited financial statements. Kintyre Holdings (Ja) Limited, Portland JSX Limited, Derrimon Trading Company Limited (DTL), and Atlantic Hardware & Plumbing Company Limited (AHPC) were all suspended for being more than 90 days late to submit their audited financials. DTL & AHPC were admitted back to trading in early July following the submission of their audited financial statements.

Kintyre Holdings, Portland JSX and MDS have not provided updated disclosure timelines on when they expect to submit their audited financial statements to the market.