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Quarterly Suspension Update
New Frontier Properties Ltd
(Incorporated in the Republic of Mauritius on 5 June 2014)
(Registration number 123368C1/GBL)
SEM share code: NFP.N0000
JSE share code: NFP
ISIN: MU0453N00004
(“New Frontier” or the “Company”)
QUARTERLY SUSPENSION UPDATE
Shareholders are advised that the Company was suspended for the late publication of its Provisional
Report for the year ended 31 August 2020. In terms of paragraph 1.11(c) of the JSE Listings
Requirements, the Company is required to provide an update to shareholders regarding the current
state of affairs of the Company until the suspension is lifted.
The Company remains restrained due to the rental cash trap by the property financier and the
refusal of the subsidiary directors to authorise the release of funds to the parent company. This has
caused a delay in resolving old payments to the auditors from 2019 and a delay in the
commencement of the audit for the 2020 financial year. Furthermore, the Company is considering
whether control of the subsidiaries has technically been lost and is consulting with auditors in this
regard.
The Company will become compliant with the JSE Listings Requirements once the Annual Financial
Statements and Annual Report for the year ended 31 August 2020 have been issued and have
been published. The Company will then apply to the JSE for the lifting of the suspension in trade in
its securities.
The Company’s shares continue to trade on the Official Market of the Stock Exchange of Mauritius
Ltd (“SEM”).
New Frontier holds primary listings on the Official Market of the SEM and the Alternative Exchange
of the JSE.
By order of the Board
7 April 2021
This notice is issued pursuant to SEM Listing Rule 11.3, the JSE Listings Requirements and the Mauritian
Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the
information contained in this notice.
For further information please contact:
JSE SEM Authorised
Sponsor Representative and Sponsor
AcaciaCap Advisors (Pty) Ltd Perigeum Capital Ltd
+27 11 480 8500 +230 402 0890
Date: 07-04-2021 02:30:00
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