By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-10 quoted companies have made the audited 2013 financial report ‘early filers’ list of the Nigerian stock exchange (NSE) as at March 28, 2014.
Early filers are companies that file their financial statements at least two (2) weeks before the due date.
The NSE says quoted companies on its bourse are required to file their financial statements on a timely basis in accordance with Appendix 111 of the listing rules.
According to the Nigeria’s exchange, it has identified the companies listed on schedule one of its X-compliance report for the review period as companies that have exceeded the minimum listing standards in terms of timely disclosure of their audited annual and quarterly financial performance.
‘’The Exchange is extremely proud of these companies and will continue to show case quoted companies that imbibe high corporate governance practices,’’ the X-compliance report stated.
On the list is Forte Oil Plc the exchange said has emerged as the ever first listed company to declare its full year report within 31 days of the end of its fiscal year.
Forte Oil filed its full-year 2013 results at the Nigerian bourse on January 31, 2014, before its due date of March 31, 2014.
On the list is Nigerian Breweries filed its full-year 2013 report on February 13, 2014, before March 31, 2014, due date.
Others are McNichols Consolidated Plc, Africa Prudential Registrars Plc, Nestle Nigeria Plc, Transnational Corporation Plc, Zenith Bank Plc, Guaranty Trust Bank Plc, beverage makers, Cadbury Nigeria plc and Courteville Business Solutions Plc.
In the same vein, defaulters of this rule are identified by the Nigeria’s exchange as companies that fell short of the minimum listing standards in terms of timely disclosure of their audited annual financial performance and are operating or operated below the listing standards (BLS).
The X-compliance report is a transparency initiative of NSE which is designed to maintain market integrity and protect the investors by providing compliance related information on all listed companies.
