Cyberhost, whose share was suspended at its request after a deal collapsed and it was left technically insolvent, has been granted an extension of its listing on the JSE.
The JSE has cracked down on companies which have failed to comply with its listing requirements.
The JSE said in May that it was cleaning up its listings and would delist several companies which did not meet its listing requirements. Cyberhost was among them.
However, the JSE, which announced today that it had delisted several companies, has granted Cyberhost an extension of its listing to give it time to comply with listing requirements.
Cyberhost said in March that the deal to acquire Ex-Teq Realtime Systems, first announced a year before, had collapsed.
The deal, which resulted in a change of control, helped it narrowly avoid ceasing its operations.
Essentially a reverse listing, Cyberhost would have paid for the R6.1 million acquisition of Ex-Teq with the issue of 24.4 million shares.
However, the acquisition, change of control, a share capital consolidation and an issue of shares for cash all lapsed, and the agreement was formally cancelled.
In addition, its database, its major asset, was attached and the bank account in Cape Town was closed.
This was the third time Cyberhost had appointed a new board and initiated a change in focus, and the JSE extension has sparked talk that another reverse listing may be in the offing.
Attempts to reach the company this morning were unsuccessful.
The JSE says it has delisted several companies - Essential Beverage Holdings, National Sporting Index, Nextvest Holdings and Oxbride Online - after they failed to provide compelling reasons why their listings should not be terminated. Noble Minerals will also be delisted as there were no objections to this.
Cyberhost, Community Technologies and Union Mines provided good reasons to remain listed.
Companies delisted for failing to meet requirements are: Jem Technology Holdings, Central Information Holdings, Tolaram 2000, Toco Holdings, Dial-a-Movie, Quick Holdings, NRB Holdings and SMG Holdings.
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