Community Technologies (C-Tech) has found itself on the wrong side of the JSE, which has warned the holding company to submit its annual report by close of trade on 24 August or face suspension.
C-Tech is the holding company for several businesses in the computer and entertainment trading sectors of the IT industry.
Operations include Community Technologies, EBS, Wonderland Amusement Centres and The Famous Butchers Grill.
It is not the first time the group has fallen foul of the JSE regulations which require companies to submit reports not more than six months after books close on a reporting period. C-Tech was late in submitting results last year and in June the JSE annotated the share and warned the company to submit the required documents.
Should the group fail to meet the August deadline, the JSE is within its rights to suspend the share and, subject to a special meeting of the JSE, the counter could face de-listing.
Added to this misdemeanour, C-Tech announced that it is still trading under cautionary as of 8 August. It also warned that it has yet to appoint a sponsor, also a prerequisite for a listed company.
A JSE spokesman says C-Tech was given an extension to find a sponsor and submit its annual report. However, the company missed the Friday deadline and has been annotated as a result.
C-Tech`s turnover for the year to 31 December amounted to R14.21 million, compared with nil the previous year.
Operating income of R148 266 was turned in for the same period, compared to a previous loss of R761 237.
Although C-Tech`s share price is well above its 12-month low of 6c, the counter is currently trading at 26c in very low volume and has a price to earnings ratio of -0.79.
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