The JSE said on Monday that telecommunications company Huge Group had 10 days to release its results or face suspension of termination of its listing.
Huge Group was meant to publish its results by the end of May.
The JSE warned that Huge Group and two other companies — Capricorn Investment Holdings and Pinnacle Point – had failed to publish their results on time. Listed companies have to submit provisional reports within a three-month period as set down under the JSE’s listing requirements.
All three companies’ listings have been annotated with an “RE” to indicate the their failure to submit the required provisional reports on time.
Should the companies still fail to submit provisional reports by 30 June 2011 their listings on the JSE will be suspended.
It’s the second time in as many years that Huge Group, led by CEO James Herbst, has failed to meet bourse regulations. It also didn’t publish its interim results to 31 August 2009 in time, prompting censure from the JSE. — Craig Wilson, TechCentral