ROYALEX Notifies of Late Filing of Unaudited Financial Statement for the Period Ended March 31, 2020

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Monday, July 06, 2020 / 4:24 PM / NSE/ Header Image Credit: Royal Exchange


The Management of Royal Exchange Plc (the Company) wishes to advise our esteemed shareholders, key stakeholders and the investing community that the Company is unable to submit its Unaudited Financial Statements for the period ended March 31, 2020 to the Nigerian Stock Exchange (NSE) within the timeframe required by the NSE.

As a holding company with five (5) different subsidiaries, the Year End Audit Exercise for the group is yet to be concluded. as our insurance and finance subsidiaries are awaiting regulatory approvals from their various regulators {National Insurance Commission (NAICOM) and the Central Bank of Nigeria (CBN).

Once all the subsidiaries have obtained approval for their respective Financial Statements, consolidation of the Group's accounts for the Year Ended December 31, 2019 will be concluded and released to the public and the Unaudited Financial Statements for the period ended March 31, 2020 will be prepared and approved by the Board of Directors for submission to both the NSE and Securities & Exchange Commission (SEC).

We are optimistic to submit the Unaudited Financial Statements for the period ended March 31. 2020 to the NSE on or before September 30, 2020.

  

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