Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Wednesday,
August 07, 2019 /06:26PM / By NSE / Header Image Credit: Indepent Newspapers Nigeria
We refer to our Market Bulletin dated 2 July 2019,
with Reference Number: NSE/RD/LRD/MB34/19/07/02 wherein we notified Dealing
Members of the suspension of eleven (11) listed companies for non-compliance
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.”
Universal Insurance Plc, one of the eleven (11) companies that were suspended on 2 July 2019, has now filed its Audited Financial Statements for the year ended 31 December 2018 with The Exchange.
In view of the Company’s submission of its Audited
Financial Statements, 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”, Dealing
members are hereby notified that the suspension placed on trading on the shares
of Universal Insurance Plc was lifted today, Wednesday, 7 August 2019.
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