Oxbridge Online has announced a new-look board while the JSE eagerly awaits the company`s annual report, which was due today on pain of having the share suspended.
The new board includes an additional two non-executive members: Steve Miller, presently executive director, and Peter Nelson, ex-financial director of BMW. These new board members join Norman Ingledew, John Simpson and CEO David Cattell.
Cattell says of the new board: "The stature of these two new board members will further strengthen Oxbridge to take advantage of the numerous exciting opportunities that we are now positioned to leverage."
Meanwhile, the threat of share suspension looms as the JSE warned Oxbridge Online on 7 January to have its annual report submitted by 31 January. In terms of JSE regulations, a company has to submit annual reports within six months of financial year-end results.
At 11am today, the JSE was not in possession of the report, but the company does have until close of business to supply a copy to the JSE.
Results for the year ended June 1999 saw Oxbridge posting a turnover of R822 000, 30% down on the forecast figure of R1.2 million.
Share