Barbados Farms Limited (the Company) is a company listed on the Barbados Stock Exchange (BSE). By virtue of such listing, the Company is subject to the Rules of the BSE which establish certain timelines relating inter alia, to the filing with the BSE and the sending to shareholders of certain financial information and its Annual Report.
Shareholders and the investing public are asked to note that subject to Section 17(6) of the Sugar Industry Act, Cap 270, of the Laws of Barbados, sugar industry enterprises, of which the Company is one, are obliged to adopt the period July 1 to June 30 as their financial year for the purposes of the said Act. Due to the operational procedures for shipment and timing differences in respect of pricing and the receipt of crop revenue by such sugar industry enterprises, the availability of timely audited results may be delayed.
The BSE, in its recognition of the aforementioned statute, wishes to remind Shareholders and the investing public of the exemption initially issued by the BSE to the Company on July 14, 1994, from the application of provisions of the Rules and requirements in respect of the filing of annual audited and interim financial statements.
To comply with filing requirements the Company may choose to adopt the procedure of estimating crop revenue if sufficient data is available.