JSE-listed Faritec has withdrawn a six-month-old cautionary announcement, saying it is no longer applicable as its shares are suspended.
The company was unable to raise the money, which left it in a precarious financial position and resulted in its application for the liquidation of its largest division, Enterprise Solutions, in the middle of last month.
Its shares were suspended at the end of April, a day after ITWeb revealed the company was selling assets to raise cash without telling shareholders. The request to the JSE was because “it appears that confidential information is being leaked from within Faritec to one or more financial publications”.
“Given that trading of Faritec shares has been suspended, the existing cautionary announcement is withdrawn as it is no longer applicable in the current circumstances,” it said.
Faritec has also told shareholders that Antrust has been appointed to liquidate the company after the Johannesburg High Court granted the provisional order on 13 May.
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