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Bluechip Companies File for Restructuring

A status report on quoted companies dated June 6, 2013 obtained by newsmen showed that directors of 11 companies have sought the concessions of the Nigerian Stock Exchange (NSE) on restructuring of their operations.

According to latest regulatory filings, Nigerian Bluechip companies have revealed plans to restructure their operations to enhance productivity and corporate governance.

The companies included Capital Oil Plc, Lennards Plc, Union Dicon Salt, Rokanna Industries, West African Glass Industries, Jos International Breweries, and Golden Guinea Breweries. Others are Stokvis Nigeria, Nigerian Sewing Machine, Aluminium Manufacturing Company of Nigeria and Premier Breweries.

The report indicated that the restructuring was aimed at ensuring that the ailing companies are able to sustain their listing requirements, which include timely periodic rendition of earnings reports to investors.




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