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Nutritional - update, delisting & cautionary
Shareholders are referred to the previous SENS announcement dated 15 November 2022.
The Company has approached a new firm of auditors to assist with the audits and has received guidance from W Consulting in terms of the approach on how to consolidate certain of the subsidiaries of Nutritional Holdings due to the inability to secure proper information and co-operation from Nutritional Foods (Pty) Ltd. (“Nut Foods”). It is now in the process of finalising its results in order to proceed with the audits for the years ended 28 February 2021 and 28 February 2022.
Shareholders are reminded that the liquidation of the Company has been successfully stayed and the new court date is set for 20 January 2023. In addition, the liquidation application for Nut Foods was moved to February 2023.
Shareholders are also advised that the termination of the listing has been formally advised by the JSE. The Company will become a public unlisted company from 19 December 2022.
The directors and supporting shareholders/investors will continue to bring the financial information up to date, will continue the efforts to reverse the liquidation and continue to take legal steps to protect the underlying assets of the Company, including Nut Foods, and to grow the business.
Once the Company has been regularised and stabilised, the Company will consider applying for a new listing of the Company, either on the JSE or another stock exchange in South Africa. The Company intends to retain the services of a transfer secretary in order to continue to communicate with shareholders as well as through its updated website at nutritionalholdings.co.za.
Accordingly, shareholders are reminded to continue to exercise caution when dealing in their securities.
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