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Despite years of controversy about companies failing to meet their financial obligations and other evidence that they’re bleeding money, Iqbal Survé reckons his ‘empire’ is cash rich and thriving.
… with no explanation.
The stock exchange says the firm failed to submit its annual reports within the four-month period stipulated in the listings requirements.
It used the last of its cash as losses doubled in the last financial year, while paying the PIC R620m as part of a settlement agreement.
Shares with the highest dividend yields on the JSE are unlikely to maintain their distributions.