Trencor, a well-regarded company that has been listed on the JSE since 1955, faces the indignity of having its shares suspended after accounting intricacies delayed the publication of its financial results beyond the stipulated reporting deadline of three months. Trencor, which holds a major stake in New York Stock Exchange listed container leasing firm Textainer as its main asset, indicated it had lodged a formal objection to a JSE decision to suspend trade in its shares from Wednesday. Trencor said the formal objection had prompted the JSE to undertake not to suspend trade pending further representations. The JSE’s final decision is expected within the next few business days. Opportune Investments CEO Chris Logan — a long time Trencor shareholder — said it would be an extraordinary decision by the JSE to suspend trade in Trencor shares. "This would prejudice Trencor’s shareholders, Trencor itself and the JSE’s reputation." Logan said the reason for the delay in publishing Trencor’...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.