NSE Suspends Trading In Shares Of Six Nigerian Firms
Trading in the shares of six listed companies has been suspended by the Nigerian Stock Exchange (NSE).
The six companies are 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.
According to the NSE, the firms were suspended after they failed to file details of their accounts to the Exchange as stipulated by market regulations.
In a notice signed by Godstime Iwenekhai, head of Listings Regulation Department,
The NSE, according to a notice signed by Godstime Iwenekhai, head of Listings Regulation Department, said the decision was pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”).
The rule provides that if an issuer fails to file the relevant accounts by the expiration of the current period, the Exchange will send to the issuer a “Second Filing Deficiency Notification” within two business days after the end of the Cure Period.