South Africa’s JSE fines sugar firm

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Johannesburg: The Johannesburg Stock Exchange (JSE) has fined a sugar firm Tongaat Hulett Ltd for failing to meet its listing requirements. The exchange has slapped fine of 7.5 million rand ($434,916) on the company.

In a statement issued by the JSE, it said, “he Company’s previously published financial information for the periods 2011 to 2018 did not comply with IFRS and was incorrect, false and misleading in material aspects and this incorrect information was disseminated to shareholders, the JSE and the investing public.”

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