Raubex defers publishing yearly results until whistleblower report is investigated
JSE-listed construction materials and mining company Raubex has announced that the publishing of its results for the financial year ended February 28 will be delayed while it reviews an anonymous whistleblower report.
The company would have published its full-year results on May 12; however, it received a whistleblower report on April 22, which contains allegations of unlawful or improper conduct concerning the group.
At this stage the allegations have not been proven to indicate any unlawful or improper conduct on the part of the group; however, the board takes the allegations seriously and will be consulting independent legal advice on the matter.
“It is prudent for the investigation to be substantially concluded before the company publishes its financial results. This will also impact the timing of the issue of the group’s audited yearly financial statements for the year ended February 28,” Raubex says.
The company will provide shareholders with an update on the anticipated timing for the release of its financial results as soon as there is further clarity, but anticipates that earnings a share will still be between 25% and 35% higher year-on-year at between R5.90 and R6.37.
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