Nutritional Holdings, which said it had stayed its liquidation, said yesterday the termination of its listing had been approved by the JSE and it would become a public unlisted company from December 19.
Nutritional Holdings is engaged in the manufacturing, marketing and distribution of staple dry foods, cannabis infusions, oils, extracts and related edibles.
A new court date relating to liquidation proceedings was set for January 20, 2023 the company said in a quarterly update. In addition, the liquidation application for Nut Foods was moved to February, 2023.
Results for the years ended February 28, 2021 and February 28, 2022 were being finalised.
“The directors and supporting shareholders will continue to bring the financial information up to date, and will continue the efforts to reverse the liquidation and take legal steps to protect the underlying assets of the company, including Nutritional Foods Proprietary (Nut Food), and to grow the business,” the company’s directors said in a statement.
Guidance was received from W Consulting on how to consolidate certain subsidiaries due to an inability to get information and co-operation from Nut Food.
Nutritional Holdings’ directors said they would consider applying for a new listing once the company had been regularised and stabilised.
BUSINESS REPORT