NSE Issues Post First Deficiency Notification For Thomas Wyatt Nigeria Plc

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Thursday, February 06, 2020   /12:59 PM  / By NSE / Header Image Credit: Thomas Wyatt Nigeria Plc

 

Pursuant to Rule 2.2.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers' Rules)

 

The Nigerian Stock Exchange (The Exchange) hereby informs the general public that Thomas Wyatt Nigeria Plc (Thomas Wyatt or the Company) missed the deadline to file its Third Quarter Unaudited Financial Statements (UFS) for the period ended 31 December 2019.

 

The Company's Q3 UFS became due on 30 January 2020. By virtue of non-filing of the Q3 UFS by the due date, Thomas Wyatt violated the provision of Rule 1.1.2, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers' Rules) ("Default Filing Rules"), which provides that "Every Issuer shall file its unaudited quarterly accounts not later than thirty (30) calendar days after the relevant quarter, ..."

 

Pursuant to the provisions of Rule 2.2.1 of the Default Filing Rules, The Exchange issued Thomas Wyatt a First Deficiency Filing Notice (FDFN). The purpose of the FDFN was to notify the Company of the infraction, and to grant it three (3) days to provide the following information to the public:

 

a. That the Q3 UFS had not been filed by the due date;

b. A detailed explanation on the reason(s) for the delay; and

c. The anticipated filing date, or state that the Company is unable to indicate an anticipated filing date, and reasons for such inability to indicate the anticipated filing date.

 

Thomas Wyatt failed to comply with The Exchange's directives set forth in the FDFN within the stipulated timeline. In light of the Company's continued breach of Rule 2.2.1 of the Default Filing Rules, and in line with the requirements of Rule 2.2.2, The Exchange hereby advises the investing public as follows:

a. An FDFN has been issued against Thomas Wyatt; and

b. Investors are advised to trade with caution on the securities of Thomas Wyatt in the absence of up to date financial information from the Company.

 

The investing public is further advised that The Exchange will continue to engage with the Company and may take the following additional steps should the Company fail to comply, and file its Q3 UFS AFS within the ninety-day cure period stipulated by Rule 2.1.1 of the Default Filing Rules:

 

a. Send Thomas Wyatt a "Second Filing Deficiency Notification"within two (2) business days after the expiration of the ninety-day cure period; and

b. Suspend trading in the Company's shares.

 

Visit Thomas Wyatts Nigeria Plc IR Page in Proshare MARKETS 

Graph - One Year Share Price Movement

 

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Table : Q2 2019 Results

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


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Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

 

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