aReit - quarterly update on suspension
The Company provided a quarterly update on its current status amid ongoing suspension. It is in the process of selecting auditors, with proposals from RB Reece and HLB CMA SA Inc. pending. The annual financial statements for the years ending 31 December 2023 and 2024 have been prepared, with work ongoing for 2025. Operationally, the Cresta Hotel remains profitable, and the Lady Hamilton lease has shifted to student accommodation, improving performance. A dispute with a tenant over air conditioning maintenance is being evaluated, but is not expected to impact financials. The Board is exploring strategic options, including potential delisting, and aims to restore compliance with JSE requirements by publishing audited financials for 2023, 2024, and 2025, along with interim results. Quarterly updates will continue until suspension is lifted.
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