JSE-listed sugar producer Tongaat Hulett has decided to only ask the JSE to lift the suspension in the trading of its shares after it publishes its trading statement for the six months ended September 30.
The company in its results for the year ended March 31, published on Tuesday, indicated that it would soon ask the JSE to lift the suspension, which had been in effect since June.
However, on Wednesday it said the board believed greater visibility on the company’s financial performance over the six-month period was important, given the extent and complexity of remedial actions, internal cost-cutting plans and other restructuring initiatives undertaken by the board and management since the financial year ended.
The trading statement will also provide recent financial information and will be published in late January.