TALK ABOUT TIM­ING

Finweek English Edition - - INVESTMENT -

SacOil is­sued a trad­ing up­date, which in terms of the JSE list­ing re­quire­ments needs to be is­sued “as soon as there is a rea­son­able de­gree of cer­tainty that the fi­nan­cial re­sults for the cur­rent re­port­ing pe­riod will be at least 20% dif­fer­ent from those of the prior cor­re­spond­ing pe­riod”. Then it is­sued re­sults a mere five hours later! Surely it didn’t only dis­cover the need for a trad­ing up­date a mere five hours be­fore it re­leased re­sults or were the re­sults that un­de­cided at that late stage?

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