Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Tuesday, March 05, 2019
04:28PM / NSE
The Management of Universal Insurance Plc. (the
Company) hereby notifies its Shareholders, Stakeholders and the investing
public that the Company approached The Nigerian Stock Exchange (the Exchange)
in compliance with Rule 2.1.1 of the Exchange’s Rules for filing of Accounts
and Treatment of Default Filing (Default Filing Rules), and requested an
extension of time to file the Company’s Audited Financial Statements for the
Year ended 31 December, 2018.
The Company being an insurance Company subject to a
primary regulator, the National Insurance Commission (NAICOM), is affected by
the directive on the adoption and implementation of IFRS 9 on Financial
Instruments and IFRS 4 (as amended) on Insurance Contracts. The Company’s
Auditors subsequently advised the Company that the implementation of the two
accounting standards would delay the completion of the audit process and would
further cause a delay in the submission of the 2018 Audited Financial
Statements. It was on this basis that the request was made and the extension
graciously granted by The Exchange till on or before 30th June, 2019. The
Company is however optimistic of submitting the 2018 AFS on or before the date
granted and regret any inconvenience this particular delay may cause our
shareholders.
This publication can also be found on the Company's
website: www.universalinsuranceple.com
Related News
1.
UNIVINSURE Declares N844 Thousand PAT in
Q3''18 Result,(SP:N0.20k)
4.
UNIVINSURE Declares N236.87m Loss in 2017 Audited
Results,(SP:N0.50k)
5.
Universal Insurance Plc Announces
Delay in Filing 2017 Audited Statements
6.
Universal Insurance Plc Appoints Mr
Paulinus Oluchukwu as Executive Director