January 9, 2012
The shares of IPWA Plc, Union Dicon Salt Plc and 11 other companies are still on full suspension by the Nigerian Stock Exchange.
The firms were 48 which were placed on Technical suspension in June by the NSE for their failure to submit their results for the September and December 2010 financial year ends in violation of the Post-Listing Rules of The Exchange as contained in Key Issue No. 5 (Annual Accounts Procedures), which states that "AUDITED ANNUAL ACCOUNTS OF COMPANIES OUGHT TO BE SUBMITTED WITHIN THREE MONTHS OF YEAR END".
The Nigerian Stock Exchange announced the placing of International Energy Insurance Plc on Technical Suspension following the non-submission of their financial statement on November 22, 2011.
A similar market update was released on the 4th of November, 2011 with three (3) quoted companies featured in the report.