February 8, 2013/NSE
The need to maintain transparency in the Nigerian Capital Market cannot be over-emphasized as prescribed in Appendix 111 of the Listing Rules, mandating every listed company to provide the Exchange with timely information to enable it efficiently perform its function of maintaining an orderly market, just as quoted companies on the Exchange are required to file their quarterly accounts within 45 days after the end of the quarter.
Also, listed companies are required to maintain a minimum free float for the set standards under which they are listed in order to ensure that there is an orderly and liquid market in their securities.
In this regard, the X-Compliance report was designed as one of the transparency initiatives to maintain market integrity and protect the investors by providing compliance related information on all listed companies.
In the report, NSE has been able to tag companies appropriately to show the listed companies/equities that are Below Listings Standard, Awaiting Bank/Insurance Regulatory Approval, under Capital Reconstruction Exercise and companies in delisting Process.
The Listing Regulation Department of Nigerian Stock Exchange presents below the Regulatory compliance status of listed equities as regards to listing rules and regulations.
The subsequent headlines set to put the status in proper perspective.
Companies with Free Float Deficiencies: