JSE-listed Community Technologies (C-Tech) says the delay in the publication of its financial results is linked to Planit`s hold-up in submitting its own financial report.
Both C-Tech and Planit`s listings on the JSE`s JET system were annotated because the companies did not submit their results within the time period regulated by the JSE.
The exchange warned that if the results are not submitted by the end of the month the listings will be suspended.
Apologising to shareholders for the delay, C-Tech chairman Ploos van Amstel says the major assets supporting the relisting of C-Tech`s shares on the JSE were acquired from Planit.
These acquisitions were Hyper Cables and EBS Computers.
"The 'extensive and in-depth investigations into group affairs` referred to in the Planit notice to shareholders also affected the acquisition of these assets," says Van Amstel.
"Although C-Tech reached a satisfactory overall settlement with Planit in this regard, the investigations of necessity caused a delay in the finalisation of C-Tech`s financial results."
Related stories:
Planit, C-Tech warned to submit reports
Share
