Audiomack Promotion

Steinhoff receives R13.5m fine from JSE

0
(0)

Steinhoff receives R13.5m fine from JSE

Steinhoff receives R13.5m fine from JSE

The Steinhoff logo. Steinhoff’s share price has gone into precipitous decline following the disclosure of financial irregularities.

Steinhoff has received a fine from the Johannesburg Stock Exchange for going against its listing requirements.

The stock exchange handed a penalty worth R13.5 million to the company.

What was inclusive in the total was a maximum of R7.5 million fine for publishing incorrect, false, and misleading information in its previous financial statements.

Steinhoff’s share price has surpassed 98 percentage since December 2017, when its former CEO Markus Jooste tendered his resignation letter in the wake of an accounting scandal.

The next step that was taken was the reinstatement of its 2017 and 2018 financial results, which have since been completed, and class action suits in South Africa and Europe.

The JSE said the fine and the public censure finalised its process in view of the company as a juristic person.

The post Steinhoff receives R13.5m fine from JSE appeared first on .

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.


About Author
South Africa News
Get breaking South Africa news, south africa news today, latest south african news today, what is happening in south africa, latest news south africa, headlines today breaking news, daily news south africa, current situation in south africa

Be the first to comment

Leave a Reply

Your email address will not be published.