Labat Africa Group has reassured its shareholders and stakeholders that the company remains a going concern despite the suspension of the company’s shares trading on the JSE.
It said yesterday that this action was a matter that the company was addressing with the utmost seriousness and diligence and it was actively working to lift the suspension by concluding the 2023 and 2024 audits and ensuring full compliance with the JSE Listings Requirements.
Labat said it had been assured that once this undertaking was completed the suspension of the shares would be lifted.
Labat said that following the termination of its previous auditors, the company was actively engaged in the appointment of the auditors with a full announcement in this regard to be made in due course.
“The company remains resolute in its commitment to adhering to all regulatory requirements, as it has successfully done over the past 30 years.
“The company can assure shareholders and stakeholders that all necessary disclosures and updates are being made in accordance with the JSE Listings Requirements.”
It said the lifting of the suspension of Labat’s shares was a priority for the company, and it was actively working with all stakeholders to expedite this process.
However, it added that as this was contingent on meeting all regulatory requirements and the successful appointment of new auditors, the company could not provide an exact timeline at this moment, but could advise that discussions with potential auditors were at an advanced stage.
The company said it would emerge stronger and more resilient, poised for future growth and success, and it looked forward to continuing this journey with all concerned, confident in the strength of Labat’s partnership and optimistic about the opportunities that lie ahead.
BUSINESS REPORT