The Nigerian Exchange Limited (NGX) has suspended trading in shares of eight companies over failure to file their audited financial statements for 2023.
In a statement on Monday signed by Godstime Iwenekhai, NGX’s
head of issuer regulation department, the bourse said the suspension took
effect on July 8.
“Trading in the shares of the eight (8) companies below have
been suspended from the facilities of Nigerian Exchange Limited (NGX or The
Exchange) effective today, Monday, 8 July 2024 for not filing their Audited
Financial Statements for the year ended 31 December 2023,” NGX said.
According to the stock market authority, the companies
include C & I Leasing Plc, Guinea Insurance Plc, Lasaco Assurance Plc and
Mutual Benefits Assurance Plc.
Others are NPF Microfinance Bank Plc, Regency Alliance
Insurance Plc, Secure Electronic Technology Plc and Unity Bank Plc.
NGX said the suspension is in accordance with “Rule 3.1,
Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing
Rules)”.
“If an Issuer fails to file the relevant accounts by the
expiration of the Cure Period1, the Exchange will send to the Issuer a “Second
Filing Deficiency Notification” within two (2) business days after the end of
the Cure Period,” NGX said.
“Suspend trading in
the Issuer’s securities; and notify the Securities and Exchange Commission
(SEC) and the Market within twenty- four (24) hours of the suspension.”
NGX said the suspension of trading in the shares of the
companies will be lifted upon the submission of the relevant accounts in
accordance with the default filing rules.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com