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BELL EQUIPMENT LIMITED - Notification of delay in release of annual financial results and integrated annual report

Release Date: 01/04/2020 09:26
Code(s): BEL     PDF:  
 
Wrap Text
Notification of delay in release of annual financial results and integrated annual report

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
(“the Company”)

NOTIFICATION OF DELAY IN RELEASE OF ANNUAL FINANCIAL RESULTS AND
INTEGRATED ANNUAL REPORT

Shareholders are advised that additional time is required for
further consideration by the Board of Directors of the impact on
the group globally of the COVID-19 pandemic and the announcement
of the 21 day nationwide lockdown by President Ramaphosa on 23
March 2020. The group is engaging with its employees,
financiers, suppliers, customers and other stakeholders,
including Government, in this regard and plans are being made to
mitigate some of the impact as the situation develops.

The group had previously announced that it would be releasing
its 2019 year-end results on or about 30 March 2020.
Shareholders are now advised that as a result of the above delay
the group will not be able to meet its financial reporting
obligations and issue its provisional audited results by 31
March 2020. The group now expects to release its 2019 results by
30 April 2020, with the posting of its 2019 integrated annual
report potentially delayed to 14 May 2020. The JSE has acceded
to the group’s request to allow these extensions.

A revised date for an investor call will be communicated after
the completion of the lockdown period on 16 April 2020, unless
the lockdown period is extended.

The group plans to be as transparent as possible as it navigates
through these difficult circumstances and further updates will
be provided to shareholders in due course, as new information
becomes available. Calls requested by investors with management
will be declined due to the risk of asymmetrical release of
information to the market.

Shareholders are also referred to the updated trading statement
released on SENS on 16 March 2020 wherein the Company announced
that earnings per share and headline earnings per share for the
year ended 31 December 2019 are expected to be at least 70% down
on the previous year.


Richards Bay
1 April 2020

Sponsor: INVESTEC BANK LIMITED

Date: 01-04-2020 09:26:00
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