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Tongaat Hulett shares suspended from trading on the JSE

20th July 2022

By: Tasneem Bulbulia

Deputy Editor Online

     

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The JSE on July 19 notified Tongaat Hulett of its decision to suspend trading in the company’s shares.

On July 15, Tongaat advised shareholders that it had voluntarily approached the JSE and requested a temporary suspension of the company’s shares owing to delays in the publication of the provisional 2022 financial statements and the audited 2022 financial statements.

The JSE declined the request to voluntarily suspend trading in Tongaat’s shares.

It advised that the basis for suspending trade would be noncompliance with Sections 3.16 and 3.17 of the requirements in respect of the timeous publication and dissemination of provisional results.

The JSE, however, cited Tongaat’s confirmation that it could not comply with Sections 3.19 and 3.23 of the requirements, as the company would not publish its annual integrated report by the due date of July 30.

The suspension has no material impact on the company’s financial stability or its business operations.

The company expects trading in its shares to be reinstated once its financial results are published.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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