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    EEL   ZAE000248258

EFORA ENERGY LIMITED

(EEL)
  Report
End-of-day quote Johannesburg Stock Exchange  -  2020-10-11
0.1200 ZAR   -.--%
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Efora Energy : Clarification of Change Statement

07/19/2021 | 10:10am EST

EFORA ENERGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
('Efora' or 'the Company')

CLARIFICATION OF CHANGE STATEMENT

Shareholders of the Company ('Shareholders') are referred to the Change Statement announcement issued on 1 July 2021 ('Change Statement') wherein the Company provided details pertaining to the modification to the reviewed results for the year ended 29 February 2020, previously issued on 31 August 2020 ('Reviewed Results'), following the publication of the audited results for the year then ended ('Audited Results') on 1 July 2021.

This announcement serves to clarify that in addition to the change highlighted in the Change Statement, the Audited Results also include an adverse opinion issued by the auditors of the Group, SizweNtsalubaGobodo Grant Thornton Inc. ('Auditors') on the consolidated Audited Results of the Company, which is a change from the unmodified review conclusion which highlighted material uncertainties relating to going concern issued in the Reviewed Results. The Auditors expressed an unmodified opinion, with a material uncertainty relating to going concern, on the results of the Company which also form part of the Audited Results. The basis for the adverse opinion is that the consolidated Audited Results are prepared on a going concern basis which in the Auditors' judgement is inappropriate. This Auditors' opinion is available, along with the full set of annual financial statements, on the Company's website at www.eforaenergy.com.

Johannesburg

19 July 2021

Sponsor

PSG Capital

For further information please contact:

Efora Energy Limited

Darrin Arendse

+27 (0)10 591 2260

About Efora

Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; a midstream project relating to crude trading in Nigeria and material downstream distribution operations throughout Southern Africa. Our focus as a Group is on delivering energy for the African continent by using Africa's own resources to meet the significant growth in demand expected over the next decade.

Disclaimer

Efora Energy Limited published this content on 19 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2021 14:09:03 UTC.


ę Publicnow 2021
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Financials
Sales 2020 1 957 M - -
Net income 2020 -20,6 M - -
Net Debt 2020 138 M - -
P/E ratio 2020 -7,51x
Yield 2020 -
Capitalization 132 M 7,77 M -
EV / Sales 2019 0,17x
EV / Sales 2020 0,15x
Nbr of Employees 104
Free-Float 10,1%
Chart EFORA ENERGY LIMITED
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Income Statement Evolution
Managers and Directors
Darrin G. Arendse Chief Executive Officer
Thabang Monametsi Group Chief Financial Officer & Financial Director
Vuyo Ngonyama Chairman
Sebenzile Patrick Mngconkola Lead Independent Non-Executive Director
Zanele Radebe Independent Non-Executive Director
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