Nutritional Holdings, which was suspended from the Johannesburg Stock Exchange in May last year, was late in releasing results because its board of directors resigned in November and December, making it difficult to collate the required information in a timely manner, the group said in a statement yesterday.
Additionally, the CEO, finance manager, and financial assistant had contracted Covid, rendering them incapable of generating any reports.
Additionally, the holiday season slowed communication between the many parties required to execute the modifications.
Helena Grewar resigned as chairman and director on November 2, 2021.
Boy Ngubo and Basil Mashabane resigned with immediate effect as non-executive directors and chairperson of the Audit and Risk Committee. Interviews for possible successors were being performed.
On May 26, 2021, the company’s shares were suspended due to concerns about potential violations of the company’s listing requirements.
The suspension can be lifted only once the company publishes its audited financial reports for the fiscal year ended February 28, 2021, which are currently due.
The board stated that it hoped to complete the audit this month. Additionally, additional resources and a new strategy were contemplated.The board had applied to the JSE for a listing extension until February 17, 2022, and the application to lift the suspension was expected to occur concurrently with the release of the results.
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