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DELTA PROPERTY FUND LIMITED - Lifting of Suspension and withdrawal of cautionary

Release Date: 29/07/2021 08:40
Code(s): DLT     PDF:  
Wrap Text
Lifting of Suspension and withdrawal of cautionary

(Incorporated in the Republic of South Africa)
(Registration number 2002/005129/06)
JSE share code: DLT
ISIN: ZAE000194049
(Approved as a REIT by the JSE)
("Delta" or the “Company”)


Delta shareholders are referred to the various announcements regarding the JSE-initiated suspension of the Company
on 15 December 2020 (“Suspension”), the last of which was published on 12 July 2021.

Shareholders are advised that the JSE has concluded its review of all the matters it considered to be relevant to the
JSE’s decision to lift the Suspension, including, inter alia –
  •     the fact that the Company has published its financial results in respect of (i) the year ended 28 February 2021,
        (ii) the interim period ended 31 August 2020, and (iii) the reissued and restated financial statements in respect
        of the year ended 28 February 2020 (“Results”), (noting that the withdrawal of the previously published
        financial results in respect of the year ended 28 February 2020 was the reason for the Suspension); and
  •     the reason for the Company’s auditor, BDO South Africa Incorporated (“BDO”), having issued qualified
        opinions in relation to the Results.

As announced on SENS and published on the Company’s website, shareholders are reminded that the basis for BDO’s
qualified opinions was that, as a result of a lack of shareholding information for the companies which the Delta group
transacted with, BDO was unable to satisfy itself regarding the completeness of related party transactions and
balances, as disclosed in the relevant notes to the Results, and that had BDO been able to obtain shareholding
information, matters might have come to BDO’s attention indicating that adjustments might have been necessary to
the relevant notes to the Results. Delta has further confirmed to the JSE that the Company was unable to obtain the
shareholding information of the entities referred to above, as these are private companies. Procurement processes
have been amended to deal only with companies that provide all information.

The Company is hereby pleased to announce that the JSE has closed the matters relating to the Suspension and that
the JSE has confirmed that it will lift the Suspension with effect from 09h00 today, 29 July 2021.

Based on the above, shareholders are no longer advised to continue exercising caution in relation to Delta securities.

29 July 2021

Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 29-07-2021 08:40:00
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