Good Cape may be next to delist

Posted On Tuesday, 30 September 2003 02:00 Published by eProp Commercial Property News
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Property investment holding company may be next in line to delist from the JSE as it no longer meets all the criteria to remain listed

Property-Housing-ResidentialProperty investment holding company Good Cape Ltd could be the next company in line to de-list from the JSE Securities Exchange SA.

Following the disposal of some of its assets and a reduction of capital, it no longer meets all the criteria to remain listed, the group revealed during the release of its final results for the year to end-June 2003.

Good Cape said it continued to evaluate proposals for its restructuring, and further announcements in this regard would be made "in due course".

Company directors could not be reached for comment by I-Net Bridge.

The company reported an operating loss of R1.5 million for the year, compared to a profit of R6.8 million a year earlier. No dividends were declared.

Headline losses per share fell to 2.6 cents, compared to losses of 4.1 cents the previous year. Net asset value per share fell sharply to 2.2 cents from 43.2 cents previously.

Cashed used in operations was R142,000, and the company recorded a decrease in working capital of R5.6 million, while net cash at the end of the period stood at R37,000.


Last modified on Friday, 09 May 2014 18:41

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