UK retail and logistics landlord New Frontier Properties has been suspended from trading on the Stock Exchange of Mauritius (SEM) and the Johannesburg Stock Exchange (JSE) following the late publication of its financial statements.
New Frontier is on the primary listing of the SEM and on the alternative exchange of the JSE.
“The audit and publication of the results has been delayed due to the rental trap of the cash flows of the subsidiaries and resignation of the former auditors,” said the company.
SEM has granted New Frontier a further extension until June 30 to publish and file the relevant financial information.
“The company will become compliant with the SEM rules and JSE listings requirements once the annual financial statements and annual reports for the years ended August 31 2020 and August 31 2021 have been issued and published.
“This will include interim results for the periods: November 30 2020, February 28 2021, May 31 2021, August 31 2021 and November 30 2021. [New Frontier] will then apply to the SEM and JSE for the lifting of the suspension in trade in its securities.”