CANNABIS INDUSTRY
BREAKING NEWS
JSE Warns Labat Once Again Over Late Financials
JSE says listing may be suspended if Labat does not produce a provisional financial report by Friday, 30 September 2022.
Cannabiz Africa
26 September 2022 at 08:00:00
JSE-listed cannabis company Labat has been warned by the JSE to produce a provisional financial report by the end of this week – or it may be suspended.
The JSE put out a SENS statement on 15 September 2022 alerting shareholders that Labat had “failed to submit its provisional report within the three month period stipulated in the JSE’s listing requirements” and gave it two weeks to correct the situation.
“Accordingly, the company’s listing on the JSE trading system has been annotated with a "RE" to indicate that the company has failed to submit its provisional report timeously and that the listing of the company’s securities is under threat of suspension and possible removal.
This is the third time in the last two years that Labat has missed its financial deadlines. The group posted an operating loss of R24,9 million in unaudited results for the six months ending in February 2022.
Regulatory Uncertainty Bites SA's Biggest CBD Brand, Goodleaf Temporarily Pulls It Range From The Shelves
Goodleaf says SAHPRA restrictions on dosages and packaging have pushed it into an uncompetitive corner. It says it's pulling its range off the shelves until there's more regulatory certainty in the cannabis market.
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