AReit Prop faces suspension delay; valuation issues resolved

aReit Prop (JSE:APOE) announced an update regarding its suspension from the JSE, attributing the delay in publishing its audited annual financial statements for the year ended December 31, 2023, to complex technicalities surrounding the valuation of its leasehold properties. While a significant impairment is expected, the company assures shareholders that headline earnings and distributable profits will not be affected, and dividend payments will continue. The audit for the year ending December 31, 2024 is already underway, with quicker completion anticipated due to the resolution of previous technical issues. The company expects to become compliant with JSE listing requirements once its audited annual financial statements and interim results are released and aims to publish interim results soon after the audited results are available.