Botswana-based grocer Choppies sheds light on the delay of its full-year results
Its statement led to the lifting of the temporary suspension of its shares on the JSE and Botswana Stock Exchange
Botswana-based grocery retailer Choppies has shed light on the reasons for the delay in the publication of its year-end results Its statement led to the lifting of the temporary suspension of its shares on the JSE and Botswana Stock Exchange. The company said its board and external auditors PwC have identified a number of matters relating to the current and earlier financial periods, which require independent verification and expert legal analysis and advice. These include certain business acquisition transactions undertaken by the South African subsidiary during the 2017 and 2018 financial years, and ramifications of a shareholder dispute in Zimbabwe.
Choppies said that while these independent verifications and expert legal analyses have been initiated, their completion date and outcomes remain uncertain, thus affecting the finalisation of the results for the year to end-June. The company, which operates in Kenya, Zambia and Zimbabwe, said the finding could also affect the f...
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