NGSE Suspends Trading In DN Tyre, IEI, UNIC, 3 Others
Management of the Nigerian Stock Exchange (NSE), on Monday announced suspension of trading in the shares of six companies with immediate effect. They include: DN Tyre & Rubber Plc; FTN Cocoa Processors Plc; International Energy Insurance Plc; and Thomas Wyatt Nigeria Plc. Others are: Union Dicon Salt Plc; and Unic Diversified Holdings Plc. The suspension, according to a notice by the exchange follows the failure of the company boards to comply with the post-listing Rule 3.1- Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”). It 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 ...