By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Tuesday served a one month notice to Starcomms Plc, Afroil, Jos International Breweries Plc and six (6) other firms to delisting, the NSE said in a statement.

The other six (6) companies are Investment and Allied Insurance Plc, Pinnacle Point Group Plc,  West African Glass Industry Plc, Nigeria Wire & Cable Plc,  Mtech Plc and Big Treat Plc.

According to the NSE, on Monday, 23 June 2014, it published a notice of its intention to delist 24 listed companies from the Daily Official List (DOL) arising from their non-compliance with provisions of the Listings Rules of The Exchange and pursuant to Clause 15 of the General Undertaking.

The NSE said the notice provided a three (3) month window for each of the affected listed companies to regularise its listing status with the Nigerian bourse. ‘’Since then, one (1) of the affected companies has fully regularised its listing status. Further, 14 companies have taken some steps to regularise their listing status,’’ the NSE added.

The NSE affirmed that the nine (9) companies named have failed to take any/or appropriate steps to regularise their listing status:

‘’Please note that this serves as the Final Notice of Delisting. The Exchange will proceed with the delisting process for the above listed companies after one month of this notice unless they take appropriate steps to effect compliance with their post listing obligations,’’ the NSE affirmed.

The Nigeria’s Exchange further affirmed that it will continue to engage the 14 companies that have taken steps towards regularising their listing status with a view to bringing them into compliance with their post listing obligations.