X-Compliance Report: NSE places Afroil Plc on Regulatory Delisting

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July 09, 2013/ NSE X-Compliance Report

Early filers are companies that file their financial statements at least two weeks before the due date. Quoted companies on The Exchange are required to file their financial statements on a timely basis in accordance with Appendix 111 of the Listing Rules.

The Exchange has identified the companies listed on Schedule One as companies that have exceeded the minimum listing standards in terms of timely disclosure of their Audited Annual and quarterly financial performance.

The Exchange is extremely proud of these companies and will continue to show case quoted companies that imbibe high corporate governance practices.

Companies Slated For Delisting/Restructuring

The companies listed on schedule five are slated for delisting/restructuring for various reasons stated.

Free Float Deficiencies

Companies listed on The Exchange must 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. The free float requirement for companies on the Main Board is 20% and 15% for ASEM companies.

The Exchange has identified five companies that have free float deficiencies. These companies applied for waivers from the Quotations Committee of Management specifically provided compliance plans with tentative timelines to support their requests.

The Quotations Committee of Management considered and approved an extended timeframe for the companies to regain compliance with the listing requirement. The companies are however required to also provide quarterly disclosure reports to The Exchange detailing their level of implementation of the compliance plans.

The names of the companies in this category are contained in schedule nine.

Transparency Disclosures: Applications Approved


The Quotations Committee of Management considered and approved the following Applications but the instruments are yet to be listed on the Daily Official List


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