JSE suspends two companies, censures five more for tardy reporting
Doubts about their going-concern status hang over several of them
WG Wearne and Visual International had their shares suspended by the JSE on Monday morning for failing to meet the bourse’s financial reporting deadline. Five further companies were given a final deadline of July 31. Of these five, three released results late on Friday and one on Monday morning shortly before the JSE’s censure. Hulisani was among the five even though it released "reviewed condensed consolidated results" for the year to end-February on June 1. Imbalie Beauty released results at 5.40pm on Friday, which may not meet the JSE’s requirements as they had "not been reviewed or audited by the group’s external auditors". Imbalie gave itself going-concern status on the assumption it will conclude a successful reverse listing, converting itself into Wepex Geotechnical. Fast-food franchise group Gold Brands released "provisional reviewed" results for the year to end-February shortly before the JSE issued its warning on Monday morning. Gold Brands — which owns Chesanyama, 1+1 Piz...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.