The Management of Royal Exchange Plc ("the Company") wishes to advise our esteemed shareholders, key stakeholders and the investing community that from available information, the Company will not be able to submit its 2019 Audited Financial Statements as well as the Unaudited Financial Statements for the period ending 31st March, 2020 to the Nigerian Stock Exchange (NSE) within the timeframe required by the NSE.
As a holding company with five (5) different subsidiaries, the audit exercise for the group is yet to be concluded, as some of our subsidiaries are yet to submit their accounts to their various primary regulators for approval.
Once all the subsidiaries have obtained approval for their respective Financial Statements, consolidation of the Groupâ€™s accounts will be concluded and approved by the Board of Directors for submission to both the NSE and Securities & Exchange Commission (SEC).
We are optimistic to submit the 2019 Audited Financial Statements and the Unaudited Financial Statements for the period ending March 31, 2020 to the NSE on or before June 30, 2020.
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Graph - One Year Share Price Movement
Table: Unaudited Q4 2019 Results