Wednesday, July 08, 2015 9.47 AM / NSE
The attention of The Nigerian Stock Exchange (The Exchange) has been drawn to a number of publications regarding the effective date of the Amendments to the Rules and Regulations Governing Dealing Members (Part VII) – Par Value Rule. Please be informed that the Par Value Rule is not yet effective and is not in force.
The Exchange received the Securities and Exchange Commission’s (SEC) approval of the Rule on 2 June 2015, and notified the Market of the approval on 4 June 2015. Further, on 5 June 2015, The Exchange, via a notice to the market titled, “The Effective Date of SEC Approved Rules”, provided clarification on when the Rules of The Exchange become effective. A copy of this notice was placed on our website.
We wish to remind all market participants of the following paragraphs of the notice:
Please be advised that the effective date of the Par Value Rule shall be communicated to the Market in due course.
Please be guided accordingly.