The JSE has warned IT companies Planit Technology Holdings and Community Technologies that their listings on the exchange`s JET system will be annotated because their financial reports have not been submitted.
JSE regulations require listed companies to submit preliminary financial reports within three months after the review period.
The stock exchange has warned that if the reports are not submitted by the end of the month the listings will be suspended, pending a special meeting of the JSE to consider the continued suspension or termination of the listings.
Planit CEO and MD Dale Packham told shareholders last week that the results are being consolidated and will be ready for publication before 26 June.
"The board apologises for the delay, but extensive and in-depth investigations into the group`s affairs, along with the task of bringing overall stability following the recent takeover, is the primary cause," he said.
"The interim board intends publishing a true and accurate reflection of the group`s finances, and will use this opportunity to write off, or write back, all the entries which do not, in our opinion, reflect fairly in the accounts.
"The board is confident that this, along with a forward policy of transparency and good corporate governance, will set the pace for a clean and aggressive turnaround of the group`s performance."
Planit sustained a R9.4 million operating loss and a headline loss of 2.2c a share for the six months to last August.
Disgruntled shareholders ousted the entire board in April, blaming it for the plunge in market capitalisation from R1 billion to R40 million.
The share was trading at 4c by midmorning on Wednesday, well off the 192c it reached in August 1998.
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