GEN General Accentuate Limited - Censure imposed by the JSE on Accentuate Limited (Company)
GEN ? General ? Accentuate Limited - Censure imposed by the JSE on Accentuate Limited (?Company?):
GEN - General - Accentuate Limited
Censure imposed by the JSE on Accentuate Limited ("Company")
The JSE hereby informs stakeholders of the following findings in respect of the Company:
1. The Company restated its annual financial results for the year ended 30 June 2016 as it
contained a material error due to non-compliance with the International Financial Reporting
Standards ("IFRS").
2. The Company failed to provide for the impairment of goodwill amounting to R36 963 000
which resulted in a material overstatement of assets and income.
3. Accordingly, the JSE found the Company to be in breach of paragraph 8.62(b) as well as
General Principle (v) of the JSE Listings Requirements in respect of the error that occurred
because of non-compliance with IFRS. These provisions of the Listings Requirements require
issuers to ensure that its annual financial statements are prepared in accordance with IFRS
and to observe the highest standards of care when disseminating information into the market
place.
The JSE has decided to impose this public censure against the Company in relation to the above-
mentioned breaches of the Listings Requirements.
22 October 2019
Date: 22/10/2019 07:05:00
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