JSE-listed Accentuate on Thursday renewed its cautionary after confirming suspicions of alleged fraudulent activities at one of its subsidiaries.
While investigations were still ongoing into “suspicious activities” at subsidiary Floorworx Africa, Accentuate assured shareholders in a cautionary update that all appropriate actions to protect its interests continued.
On December 28, Accentuate alerted shareholders to noncompliance with approved policies and procedures that caused the company to believe that fraud had been committed.
The group said it had opened a criminal case and obtained urgent interdicts against the alleged perpetrator and related parties and was cooperating fully with the authorities in their investigations.