Trellidor shares slump after court ruling
07 March 2022 - 11:00
UPDATED 07 March 2022 - 17:27
Shares in Trellidor slumped by almost a fifth on Monday, after the fixed-security specialist scrapped its dividend in the wake of a labour court battle that is expected to cost it about R25m, equivalent to its first-half profit.
The group’s shares lost as much as 17% before paring losses, while still having their worst day in two years, after saying the loss of an appeal against a 2020 judgment has forced it to reinstate 42 employees and make limited back payments for more than five years...
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