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 results for the six months ended 31 August 2021 and the year ended 28 February 2022 on 27 November 2023. 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 2022 (“2023 Interim Results”) and 31 August 2023 (“2024 Interim Results”), and the consolidated annual financial statements for the year ended 28 February 2023 (“2023 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.
2023 Interim Results and 2023 EEL AFS
The Company published the 2023 Interim Results and 2023 EEL AFS today.
2024 Interim Results
The Company anticipates publishing the 2024 Interim Results by 31 May 2024.
Operational update
The operational update in the announcement issued by the Company on 28 February 2024 on the Stock Exchange News Service refers, wherein the Company reported on the Alrode Depot Acquisition. The transfer of ownership of the Alrode Depot which was expected to occur by the end April 2024 is yet to be concluded. This is due to delays in administrative processes to give effect to the transfer. The transfer is now expected to occur on or about 31 May 2024.
The Company will provide further updates on the status of the outstanding financial results and on its operations in due course.
Johannesburg
30 April 2024
Sponsor
PSG Capital
For further information please contact:
Efora Energy Limited
Darrin Arendse
+27 (0)10 591 2260
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IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES
If you are in any doubt as to what action you should take, consult your CSDP, Broker, Banker, Legal Adviser, Accountant or other professional advisers immediately.
Or visit our Shareholder Information page for more information regarding your shareholding and share certificate.