Delta delays financial statements and interim results for a third time

Delta Property Fund has delayed the publication of its audited, restated 2020 financial statements and interim results for the six months ended on the 31st of August 2020 for a third time due to the extended internal forensic investigation assessment and additional work its auditor had to perform.

The initial publication of its interim results was scheduled for release on the 11th of December 2020.

On the 9th of December 2020, shareholders were informed of a delay due to the forensic investigation by Mazars Forensic Services into alleged procurement irregularities and the misappropriation of funds by senior executives and the company’s auditor, BDO South Africa Inc., withdrawal of it its audit opinion in respect to the 2020 financial statements.

Due to the withdrawal of the company’s 2020 financial statements by the board of directors, the company voluntarily suspended the listing of its shares on the JSE on the 15th of December 2020, delaying the publication of its 2020 financial results for a second time with the intention of publishing the results on the 28th of February 2021.

The board of directors expect the rescheduled publication of the company’s audited, restated 2020 financial statements and interim results for the six months ended on the 31st of August 2020 by no later than the 22nd of March 2021 whereby it will apply to the JSE for its suspension to be lifted.

Source: Propertywheel.co.za | https://propertywheel.co.za/2021/02/delta-delays-financial-statements-and-interim-results-for-a-third-time/

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