The Nigerian Stock Exchange has suspended trading in shares of six listed companies.
The Head, Listings Regulation, NSE, Godstime Iwenekhai, in a statement on Monday, notified members of the suspension, which he said was in pursuant to Rule 3.1, Rules for filing of accounts and treatment of default filing, Rulebook of the Exchange (Issuers’ Rules) (“Default Filing Rules”).
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 statement read in part, “Trading in the shares of the following companies have been suspended effective today, October 8, 2018: 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.
“In accordance with the rules set forth above, the suspension of the above listed companies 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.”
