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, however trading in the Company’s shares remains suspended due to the resultant late publication of the financial results for the six-month periods ended 31 August 2021 (“2022 Interim Results”) and 31 August 2022 (“2023 Interim Results”), and the consolidated annual financial results for the years ended 28 February 2022 (“2022 Annual Results”) and 28 February 2023 (“2023 Annual Results”). 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.

2022 Interim Results and 2022 Annual Results

Efora’s external auditor, SizweNtsalubaGobodo Grant Thornton Inc. (“SNG GT”), has commenced review and audit work relating to the 2022 Interim Results and 2022 Annual Results, respectively. Efora anticipates that the review and audit work will be completed by 31 August 2023. The Company will in due course provide further updates regarding the expected timing of the publication of the 2022 Interim Results and 2022 Annual Results.

2023 Interim Results and 2023 Annual Results

The publication of the 2022 Interim Results and 2022 Annual Results will enable the Company to focus on the finalisation and publication of the financial results for the 2023 financial year – the 2023 Interim Results and 2023 Annual Results. Review and audit work relating to these results is yet to commence. Efora will in due course provide further updates regarding the expected timing of the publication of these outstanding financial results.

Johannesburg
26 July 2023

Sponsor
PSG Capital

For further information please contact:

Efora Energy Limited
Darrin Arendse
+27 (0)10 591 2260