NSE Lifts Suspension Placed on ACADEMY, AUSTINLAZ and 2 Others

Proshare

Tuesday, November 06, 2018 12:58 PM / NSE

 

We refer to our Market Bulletins dated; 5 July 2017, 2 August 2017, and 4 October 2017 notifying the public of the suspension of seventeen (17), one (1) and four (4) listed companies respectively for noncompliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides that; “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: 

(a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;

(b) Suspend trading in the Issuer’s securities; and

(c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.” 

Premier Paints Plc, Ekocorp Plc, Austin Laz & Company Plc and Academy Press Plc which were among the companies suspended have submitted their respective Financial Statements. In view of the submission of their respective accounts and pursuant to Rule 3.3 of the Default Filing Rules, which provides that; “The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange. 

The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”; the general public is hereby notified that the suspension placed on the trading of the Company’s shares has been lifted effective today, 6 November 2018. 

 

Proshare Nigeria Pvt. Ltd. 

 

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