Elexir Technology Holdings has failed to submit its audited annual financial statements in terms of JSE regulations, as auditors have not yet formed an opinion on Elexir`s going concern status.
The JSE says that for now the company`s listing on the Johannesburg Equities Trading system will be annotated with "RE".
This indicates that the statements were not delivered within six months of Elexir`s year-end and that the listing is under threat of suspension and possible termination.
On Friday Elexir issued a cautionary notice saying that its auditors are still verifying "certain issues", resulting in the delay of the statements` publication.
"The auditors have requested the opportunity of examining the trading results for the period subsequent to 31 August 2001 and to evaluate current prospects in order to form an opinion on the going concern status of the company," Elexir says.
An audit opinion will be expressed only when the auditors` examination is concluded, which, Elexir says, will be no later than 28 March.
In terms of JSE rules, the company now has until 2 April to submit the statements or its listing will be suspended.
Following that, a special meeting of the JSE will consider the continued suspension or termination of the listing.
Share