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FREEDOM PROPERTY FUND LIMITED - Delay in the release of the Provisional Annual Financial Statements and Cautionary announcement

Release Date: 30/06/2016 09:00
Code(s): FDP     PDF:  
Wrap Text
Delay in the release  of the Provisional Annual Financial Statements and Cautionary announcement

FREEDOM PROPERTY FUND LIMITED
Incorporated in the Republic of South Africa
(Registration number 2012/129186/06)
Share code: FDP
ISIN: ZAE000185260
(“Freedom” or the “Company”)


DELAY IN THE RELEASE OF THE PROVISIONAL ANNUAL FINANCIAL STATEMENTS OF THE COMPANY
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2016 AND CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the announcement released on the Stock Exchange News
Service of JSE Limited (the “JSE”) on 31 May 2016, and are advised the Company
is not yet in a position to distribute provisional annual financial statements
(“Provisional Results”) in respect of its financial year ended 28 February 2016,
and in accordance with paragraph 3.17(a), that is within four months of its
financial year end.

The delay in the distribution of the Provisional Results is consequent to the
unavailability of certain information (“Information”) relating to the period
under review, 1 March 2015 to 28 February 2016 (the “Period Under Review”), and
specifically certain transactions that were implemented and accounted for during
the 2015 and 2016 financial years of the Company. This Information is required
by the Company’s auditor, RSM South Africa, in order to finalise the Provisional
Results for release.

The Information has been requested from members of the executive management of
the Company for the Period Under Review, the majority of whom have since resigned
from their employment with Freedom.

As a result of the Company not being in a position to release the Provisional
Results today, Thursday, 30 June 2016, trading in the securities of the Company
will be suspended by JSE Limited (the “JSE”) with effect from commencement of
market tomorrow, Friday, 1 July 2016.

The Company anticipates being in a position to release the Provisional Results
within a reasonable period of the Information being received, at which time the
Board will request a lifting of the suspension of trading in the Company’s
securities from the JSE.

Consequently shareholders are advised to exercise caution when dealing in Freedom
securities until a full announcement is made.
Shareholders will be updated accordingly.


Johannesburg
30 June 2016


Sponsor
Bravura Capital Proprietary Limited

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