NSE suspends trading in shares of six listed companies
The Nigerian Stock Exchange has suspended trading in shares of six listed companies. According to the Head, Listings Regulation, NSE, Godstime Iwenekhai, the suspension was in pursuant to Rule 3.1, Rules for filing of accounts and treatment of default filing, Rule book of the Exchange.
Iwenekhai said the rules provided that if an issuer failed to file the relevant accounts by the expiration of the cure period, the Exchange would send to the issuer a ‘second filing deficiency notification’ within two business days after the end of the Cure Period. He added that trading in the issuer’s securities would be suspended, after which the Securities and Exchange Commission and the market would be notified within 24 hours of the suspension.
The following are the affected companies: DN Tyre & Rubber Plc, FTN Cocoa Processors Plc, International Energy Insurance Plc, Thomas Wyatt Nigeria Plc, Union Dicon Salt Plc, and Unic Diversified Holdings Plc.
The suspension will only be lifted upon the submission of the relevant accounts and provided the Exchange is satisfied that the accounts comply with all applicable rules of the Exchange.”