Thursday/ August 17,
2017/ 5:10 PM /NSE
Management & Trust (“the Company” or “Deap Capital”) wishes to notify the
Nigerian Stock Exchange (NSE), its valued Shareholders and other Stakeholders
of the company that the 2013 and 2014 Audited Accounts are ready and have been
filled with the Nigerian Stock Exchange and to explain why the Audited Accounts
were submitted late to the exchange.
reason for the lateness of the accounts was due to the intervention of the
Securities & Exchange Commission (SEC) in the management of the Deap
Capital on May 7, 2014 through which means they set up an Interim Management
Team (IMT) for the Company. The IMT was in the company for a period of 15
months from that date till May 2015 when the SEC handed over the management of
the Company to the current board and the management which was the aftermath of
the Extraordinary General Meeting for the Company.
It took the new
board and management some time to settle down in the Company, since most of the
staff had left the Company after the SEC intervention and the process of
preparation of audited accounts of the company for the two years which had
passed before the management came in had to be undertaken by a new management
team of the Company.
As of date, two
accounts have been prepared, approved by the board and filled with the Stock
Exchange. We expect the 2015 and 2016 to be ready in the next few weeks. The
delay experienced in filling them arose due to the backlog of work associated
with the accounts for 2013 and 2014.
We expect to be
up to date with the filling of our quarterly management accounts with the NSE
as soon as these backlogs of Audited Account have been rendered to the market.