Wednesday, April 24, 2019 08:30AM / NSE
This is to inform the Nigerian Stock Exchange (The Exchange), our distinguished shareholders and the general public that LASACO Assurance Plc (the Company) will be unable to file its 1st Quarter unaudited Financial Statements for the Period ended 31 March 2019, within the deadline of 30 April 2019.
The request for extension of time is due to the fact that the Company is yet to file its Audited Financial Statements for the Year ended 31 December 2018 (2018 AFS) as a result of the delays associated with the adoption and, implementation of IFRS 9 on Financial Instruments and IFRS 4 (as amended) on Insurance contract.
The Company is optimistic that the 1st Quarter accounts will be ready and will be released on or before 29th July, 2019.
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Graph 1: LASACO Assurance Plc – One Year Share Price Movement
Table: Audited 2018 Results