Friday September 18, 2015 8.38 PM / TheAnalyst
The investors who bought into BGL Plc shares are in a big fix (a confused state about how and where to dispose the shares of the troubled investment house) as investigation now indicates a growing desire/need to dispose the shares of the sanctioned stock on the NASD OTC platform triggered by the Securities & Exchange Commission’s (SEC) suspension (arising from petitions from investors) despite court orders/injunctions obtained by BGL Plc; and the recent arrest of the Group CEO/MD of the firm by the Economic and Financial Crimes Commission (EFCC).
Findings by our News/Investigation unit revealed that trading on the shares of BGL Plc has been suspended on the NASD OTC platform. The shares of BGL Plc had earlier been admitted as a security that is eligible to trade on the platform and has been active before SEC directive to suspend the company led to the suspension of trading on the security.
What this means for investors is that they are technically stuck for now as the shares of BGL Plc cannot be traded.
Based on information available on the NASD website, below table highlights 79 companies’ whose securities are eligible to trade and are considered to have registered their public securities with the Securities and Exchange Commission (SEC).
Shareholders that wish to trade their shares should approach Licensed Participating Institutions (Broker/Dealer Firms) for further clarifications.