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Barring any last minute change in decision, the Nigerian Stock Exchange may soon clampdown on the shares of 11 companies who had missed the deadline to file their audited financial statements for the year ended December 31, 2016.
The NSE who on Monday made this announcement said it might suspend trading in their securities.
The defaulting companies are A.G Leventis Nigeria Plc, African Alliance Insurance Plc, Austin Laz & Company Plc, Capital Hotel Plc, Conoil Plc, Niger Insurance Plc, Premier Paints Plc, Resort Savings & Loans, Smart Products Nigeria Plc, Sovereign Trust Insurance Plc, and Union Diagnostic & Clinical Services Plc.
According to the statement by the NSE, the listed companies’ audited financial statements became due on Friday, March 31, 2017.
It said, “As the companies failed to file their AFS by the due date, the companies have violated Rule 1.1.4, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules), which requires listed companies to file their AFS ‘with The Exchange not later than 90 calendar days after the relevant year end.’
