WLL
WLL
Wellco Health Limited - Halt of trading
Wellco Health Limited
(formerly Nungu Trading 279 (Pty) Ltd)
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
Share code: WLL & ISIN: ZAE000071841
("Wellco" or "the Company")
HALT OF TRADING
The Wellco Board wishes to inform its shareholders that the JSE halted
trading in the company"s shares this morning following discussion with the
company.
The Board agrees with the JSE"s decision in view of the following:
- a disagreement exist with the company"s auditors with regard to the
treatment of certain debtors and the subsequent sign off of the annual
financial statements of the company by the auditors. This could have a
significant effect on the results as previously published and requires that
the company restate its financial results as published on 31 May 2006.
The board expects to finalise this issue within the next few days and
revised financial statements will be published next week following which
the JSE will consider lifting the trading halt.
Pretoria
23 August 2006
Designated Advisor
River Group
Warning: The listing of ordinary shares in the company is on the AltX.
Shareholders are advised of the risks of investing in a company listed on
the AltX. Shareholders are advised that the JSE does not guarantee the
viability or the success of a company listed on the AltX. In terms of the
JSE Listings Requirements a Designated Advisor has to be retained by the
company. The Designated Advisor is required to, inter alia, attend all
board meetings held by the company to ensure that all JSE Listings
Requirements and applicable regulations are complied with, approve the
financial director of the company and guide the company in a competent,
professional and impartial manner. If the company fails to retain a
Designated Advisor it must make arrangement to appoint a new Designated
Advisor within 10 business days, failing which the company faces suspension
of trading of its securities. If a Designated Advisor is not appointed
within 30 days of its suspension the company faces the termination of its
listing without an offer to minority shareholders.
Date: 23/08/2006 04:42:25 PM Produced by the JSE SENS Department
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