In a statement to the BSE, the company attributes the failure to publish financial results for the year ended February 28, 2013 within the time prescribed by the listing requirements to several factors.The company therefore asked the BSE and JSE to "temporarily suspend, with immediate effect, the trading in Blue Securities" until a further announcement is made.Trading on the company's shares has also been suspended on the JSE, where Blue has a primary listing.
Last month, Blue advised shareholders that it anticipated that earnings per share and headline earnings per share would be at least 20 percent lower that the comparative period.It is in relation to this trading update that the company now says it won't be in a position to publish its consolidated results in time. In a statement, Blue says the decision was reached while taking into consideration that a debt restructuring agreement terminates in January 2014 and the financial implications of this need to be considered in the February 2013 results.Another factor that contributed to the delay in publishing the results is Blue's continuing recapitalisation negotiations with its majority shareholder, Mayibuye Group.
