NATIONAL TYRE SERVICES LIMITED
NOTICE TO SHAREHOLDERS
Extension of publication of audited results for the year ended 31 March 2024
The Board wishes to advise shareholders and its stakeholders that we were not able to publish the company's audited financial results for the year ended 31 March 2024 by 30 June 2024 in compliance with the Zimbabwe Stock Exchange (ZSE) regulations. This was due to the following:
- During the second half of the 2023-2024 financial year, we implemented our ERP i.e. SAP to suit our internal reporting needs. The re-implementation created unanticipated challenges which took longer to resolve, resulting in delays in the finalization of the external audit; and
- The change in functional currency from ZWL to ZiG coincided with the period when we were supposed to commence the March 2024 year-end audit. Time was spent on ensuring that our systems were compliant with the new currency.
We sought and obtained approval from the ZSE to defer publication of the financial statements to not later than 31 July 2024.
By Order of the Board
S. N. Mandimika
Company Secretary
11 July 2024
Directors: R. J. Moyo # (Chairman). B.P.H. Samudzimu, A. Ushe, S.N. Mandimika, M.T. Chingwena #, S. Shonhiwa #, D. Mashingaidze #, V. Masunda #
# Non-Executive
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National Tyre Services Ltd. published this content on 17 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2024 08:54:08 UTC.