Rolfes maintains that JSE censure is inappropriate
JOHANNESBURG – Rolfes Holdings yesterday hit back at the JSE after the exchange publicly censured the chemicals group on the stock exchange news service for material errors in its previous financial statements.
The JSE had said that Rolfes annual financial statements for the years ended June 30, 2015 and 2016 contained material errors, which were restated in the firms’s annual financial statements for the year ended June 30, 2017.
Errors included overstatement of property, plant and equipment; the overstatement of inventories as well as the understatement of interest-bearing loans.
Source: iol.co.za