FINANCIAL STATEMENTS
JSE puts Steinhoff bonds on notice
Steinhoff’s JSE-listed debt securities — 11 bonds with an outstanding value of R6.8bn – could be suspended if the company fails to publish audited financial statements soon. The JSE would issue a cautionary if Steinhoff Services, the entity through which the bonds were listed, failed to deliver financial statements by the end of January, JSE GM of issuer regulation Andre Visser said on Friday. The bourse would grant one month’s grace to publish the financials, as it had done with Eskom, failing which it could suspend the bonds, he said. "We are very strict when it comes to financial statements." Eskom’s bonds could be suspended if it does not produce financial results by the end of January. Debt issuers must produce interim results within three months of the end of an interim period and annual results within four months of a year end. This period is extended to seven months for state-owned enterprises. The suspension of its bonds would come as a huge blow to Steinhoff, which is goin...
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.