The Nigeria Stock Exchange (NSE) at the weekend lifted the suspension placed on trading in the shares of Thomas Wyatt Nigeria (Thomaswy) Plc and Union Dicon Salt Plc over non-submission of accounts.
This was stated in an official statement issued by the Nigerian Stock Exchange (NSE) after the company submitted its accounts.
The NSE stated as thus, “We refer to our Market Bulletin dated 8 October 2018 notifying the public of the suspension of six (6) listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides that; “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will:
(a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;
(b) Suspend trading in the Issuer’s securities; and
(c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”
Thomas Wyatt Nigeria Plc and Union Dicon Salt Plc (the Companies) which were amongst the companies suspended have submitted their Audited Financial Statement for the year ended 31 March 2018 and Unaudited Financial Statement for the period ended 31 March 2018 respectively to The Exchange. In view of the submission of the Companies accounts and pursuant to Rule 3.3 of the Default Filing Rules, which provides that; “The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange. The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”; the general public is hereby notified that the suspension placed in the trading of the Companies’ shares have been lifted effective today, 19 October 2018.
