Quarterly Update Announcement
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EFORA ENERGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
(“Efora” or “the Company” or together with its subsidiaries “the Group”)
QUARTERLY UPDATE ANNOUNCEMENT
Shareholders of the Company (“Shareholders”) are referred to the ongoing suspension in trading of the Company’s shares on the Johannesburg Stock Exchange (“JSE”) which came into effect on 9 October 2020 following the late publication of the consolidated annual financial results for the year ended 28 February 2021 (“2021 Annual Results”). Efora published the 2021 Annual Results on 16 May 2023 and subsequently published the interim and annual results for the financial years ended 28 February 2022 and 28 February 2023 in November 2023 and April 2024, respectively. Efora also published the interim results for the six months ended 31 August 2023 in June 2024. Trading in the Company’s shares remains suspended due to the resultant late publication of the consolidated annual financial statements for the year ended 29 February 2024 (“2024 EEL AFS”). The purpose of this announcement is to provide an update on the current state of affairs of the Company and the progress made to date in working towards achieving the reinstatement of trading in the Company’s shares.
2024 EEL AFS
We refer to the Trading Statement issued on the Stock Exchange News Service (“SENS”) of the JSE on 25 July 2024 wherein the Company stated it anticipated to publish the 2024 EEL AFS on or about 29 July 2024. SizweNtsalubaGobodo Grant Thornton Incorporated, the external auditor of the Company, is finalising its engagement quality review and we now anticipate publishing the 2024 EEL AFS on our about 2 August 2024. Thereafter, the Company will commence processes necessary to secure the lifting of the suspension in trade of the Company’s shares.
Operational update
The operational update in the announcement issued by the Company on 30 April 2024 on SENS refers, wherein the Company stated that transfer of the Alrode Depot was expected to occur by the end of May 2024. We are pleased to report that the transfer of the depot to Efora has now been completed.
The Company will provide further updates in due course.
Johannesburg
30 July 2024
Sponsor
PSG Capital
For further information please contact:
Efora Energy Limited
Darrin Arendse
+27 (0)10 591 2260
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