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Johannesburg - Troubled AltX-listed microlender Blue Financial Services [JSE:BFS] is facing suspension unless it can get a qualified audit opinion on its financial results.
"The Johannesburg Stock Exchange wishes to advise that the audit opinion on the above company's reviewed provisional results for the year ended February 28 2010 has been disclaimed," read a Stock Exchange News Service (Sens) announcement released by the JSE on Tuesday.
Blue announced its annual results for the year to end-February on Monday, posting a R1.03bn loss with total liabilities exceeding assets by about R2m.
According to Blue's group corporate affairs manager Morné Reinders, auditors are not yet able to express a formal opinion on the results because the figures take into consideration conditions attached to a potential R163m bailout from the Mayibuye group.
"We have until the end of August when the annual report needs to be mailed out to get the auditors to offer an opinion on the results," Reinders said.
- Fin24.com
"The Johannesburg Stock Exchange wishes to advise that the audit opinion on the above company's reviewed provisional results for the year ended February 28 2010 has been disclaimed," read a Stock Exchange News Service (Sens) announcement released by the JSE on Tuesday.
Blue announced its annual results for the year to end-February on Monday, posting a R1.03bn loss with total liabilities exceeding assets by about R2m.
According to Blue's group corporate affairs manager Morné Reinders, auditors are not yet able to express a formal opinion on the results because the figures take into consideration conditions attached to a potential R163m bailout from the Mayibuye group.
"We have until the end of August when the annual report needs to be mailed out to get the auditors to offer an opinion on the results," Reinders said.
- Fin24.com
