The JSE has tagged Labat Africa`s listing as a result of an audit report.
It said yesterday that the audit opinion on Labat`s annual financial statements for the year to the end of February 2006 contains both an emphasis of matter and a qualified audit opinion.
"Shareholders are advised to refer to the financial statements to ascertain the exact nature of the modification and qualification."
The listing has, as a result, been tagged with letters to indicate this status, which will be removed when the auditor`s report no longer contains a modified and qualified audit opinion.
Labat, on the same day, issued a statement indicating its audit was "conducted in accordance with International Standards on Auditing, and that the financial results for the year ended 28 February 2006 are in accordance with International Financial Reporting Standards".
Shares in the company closed at 20c yesterday, after a day devoid of trading. Labat`s 12-month high is 27c and its 12-month low is 6c.
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