July 11, 2023/NGX
The Nigeria Exchange Group (NGX) has suspended trading activities of the companies below due to a default in filing their Audited Financial Statements for the year ended 31 December 2022 as stipulated in NGX Rule 3.1:
- Afromedia Plc
- Pharmadeko Plc
- Royal Exchange Plc
- International Energy Insurance Ple
- C&l Leasing Plc
- Presco Plc
- Ardova Plc
The suspension of trading in the shares of the above-mentioned companies will only be lifted upon the submission of the relevant accounts, provided NGX Regulation Limited (NGX RegCo) is satisfied that the accounts comply with all applicable rules of NGX.
Notification of Suspension of Seven (7) Listed Companies
Pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which provides that:
“If an Issuer fails to file the relevant accounts by the expiration of the Cure Period1, The Exchange will:
- Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;
- Suspend trading in the Issuer’s securities; and
- Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”,
Trading in the shares of the seven (7) companies below has been suspended from the facilities of Nigerian Exchange Limited (NGX) effective today, Tuesday, 11 July 2023 having failed to file their Audited Financial Statements for the year ended 31 December 2022.
In accordance with the Default Filing Rules set forth above, the suspension of trading in the shares of the above-mentioned companies will only be lifted upon the submission of the relevant accounts, provided NGX Regulation Limited (NGX RegCo) is satisfied that the accounts comply with all applicable rules of NGX.
