By Hamisu B. S
Nigerian Stock Exchange suspended eleven listed companies
The Nigeria Stock Exchange has suspended eleven listed companies , in a notice to the dealing members NSE stated pursuant to Rule 3.1, for filling of accounts and treatment of default filling, Rule book of the Exchange provided that, if an issuer fails to file the relevant accounts by the expiration of the cure period, the Exchange will;
a)send to the issuer a second filling notification within two (2) business days after the end of the cure period, suspend trading on the issuer’s securities and notify the Securities and Exchange Commission and the market within twenty-four hours of the suspension.
Conoil plc. FTN Cocoa processor plc. Gold link insurance plc. Guinea insurance plc. Lasaco assurance plc. Niger insurance plc. R.T. Briscoe plc. resort saving & loan plc., Royal exchange plc. Standard alliance insurance plc. and Universal insurance are suspended effective July 2. 2019.
In accordance with the rules of the Exchange the suspension of the companies will be lifted upon submission of the relevant accounts and provided the exchange is satisfied that the accounts comply with all applicable rules of the exchange.
