General SENS Submitter Company - GEN General Accentuate Limited - Censure imposed by the JSE on Accentuate Limited (Company)

GEN – General – Accentuate Limited - Censure imposed by the JSE on Accentuate Limited (“Company”)

GEN – General – Accentuate Limited
Censure imposed by the JSE on Accentuate Limited (“Company”)


The JSE hereby informs stakeholders of the following findings in respect of the Company:


   1. The Company restated its annual financial results for the year ended 30 June 2016 as it
       contained a material error due to non-compliance with the International Financial Reporting
       Standards (“IFRS”).


   2. The Company failed to provide for the impairment of goodwill amounting to R36 963 000
       which resulted in a material overstatement of assets and income.


   3. Accordingly, the JSE found the Company to be in breach of paragraph 8.62(b) as well as
       General Principle (v) of the JSE Listings Requirements in respect of the error that occurred
       because of non-compliance with IFRS. These provisions of the Listings Requirements require
       issuers to ensure that its annual financial statements are prepared in accordance with IFRS
       and to observe the highest standards of care when disseminating information into the market
       place.


The JSE has decided to impose this public censure against the Company in relation to the above-
mentioned breaches of the Listings Requirements.




22 October 2019

Date: 22/10/2019 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.