The agriculture and agri-processing company said the JSE had agreed to lift the suspension with effect from today to enable investors to absorb the financial information that was now available.
This comes after Tongaat released its results for the six months to end September on Friday, which reflected a reduction in losses.
It reported a headline loss of R314million during the period, down from the restated headline loss of R354m compared to last year. However, chief executive Gavin Hudson said the group was still facing significant challenges and there was a lot of hard work ahead of them, but the firm had a robust strategy, a committed management team, as well as a supportive and engaged board.
“We are moving strongly in the right direction. Tongaat is generating decent cash flow with strong margins and we are on track to meet our first-year target of improving cash flow by R1billion. We have also met and exceeded our first debt reduction target, which was agreed with our lenders. We are at an advanced stage of assessing assets, which may be suitable for disposal,” Hudson said.