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Labat - JSE suspension and dividend update
Labat Africa announced that its securities remain suspended following the JSE's suspension on 26 August 2026. The company declared a maiden dividend on 23 June 2026, but after issuing approximately 900 million additional shares, the dividend obligation increased significantly.
Due to the suspension and deteriorating liquidity, creditors have withdrawn facilities, impairing the company's ability to fund operations and pay the dividend. On the legal position advised to the company, under section 46(1)(b) of the Companies Act, the company was prohibited from paying the dividend once solvency and liquidity could no longer be assured. The company is committed to stabilising its financial position, engaging with stakeholders, and will provide further updates.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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