Blue Label Telecoms, which owns 45% of the troubled mobile phone group Cell C, may face suspension on the JSE bourse.

The exchange said Blue Label Telecoms has failed to distribute its annual financial statements and notice of the annual general meeting within the four-month period stipulated in the JSE’s Listings Requirements.

“Accordingly, the company’s listing on the JSE trading system has been annotated with a ‘RE’ to indicate that it has failed to comply and that the listing of this company’s securities is under threat of suspension and possible removal,” said the JSE on Tuesday.

The exchange added that if Blue Label Telecoms fails to distribute its annual report on or before 31 October 2019, then its listing may be suspended.

Blue Label published its results on 26 September 2019, after financial problems and evaluation of its investment in Cell C delayed the publication of results.

For more read: Cell C at the Centre of Blue Label Telecoms Delaying Financial Statements

You can also read: Is Blue Label Telecoms Headed for Delisting on the JSE?

 

1 COMMENT

  1. Typical JSE bluff…suspension means less revenue for themselves – only happens when the share has tanked to 1c and there is no broker interest….move on nothing to see here folks.

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