DAARCOMM Updates On The Suspension Of Its Operating License By NBC

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Tuesday, June 18, 2019 02:30PM / NSE



The Board and Management of DAAR Communications Plc wish to inform her esteemed Shareholders and the general public that after the Ex Parte Order of Interim Injunction of the court on Friday 7th June, 2019 for Maintenance of Status Quo Ante Bellum as at 30th May, 2019, pending the hearing and final determination of the motion on Notice filed along with the application, DAAR Communications Plc reopened its operations on Friday 7 June, 2019. The matter was adjourned to Thursday 13th June, 2019.

Meanwhile, on 9th June, 2019, representatives of the Board and Management of DAAR Communications Plc met with some leaders of the broadcasting industry and the Director General of the National Broadcasting Commission (NBC) in an effort to find amicable resolution of the issues. At this meeting, a truce was reached by both parties.

However, both parties were in court on 13 June, to inform the court of the parties’ intention to settle the dispute out of court.

The court thereafter adjourned to Wednesday 26th June, 2019 to enable parties conclude terms of settlement out of court and file same for settlement of the dispute. Consequently, the NBC and DAAR Communications Plc are meeting and interfacing to bates on amicable terms for out of court settlement.

 

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Table: Unaudited Q3 2018 Results

 

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