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NSE Suspends Trading In Shares Of 17 Firms - Business - Nairaland

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NSE Suspends Trading In Shares Of 17 Firms by dipoolowoo: 11:24pm On Jul 06, 2017
By Modupe Gbadeyanka

Trading in the shares of 17 companies listed on the Nigerian Stock Exchange (NSE) have been suspended by the NSE management.

The firms received the suspension following their failure to file relevant accounts to the stock market regulator as required by law.

According to information reaching us, the effective day of the suspension was from Wednesday, July 5, 2017.

Section 3.1(b) of the Rulebook of the NSE states that “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: suspend trading in the Issuer’s securities.”

However, the suspension is expected to be lifted after the affected companies file the required accounts they earlier failed to submit.

“The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted,” Section 3.3 of the same rulebook states.

The affected companies are African Alliance Insurance Plc, African Paints (Nigeria) Plc, Aso Savings & Loans Plc, Ekocorp Plc, Evans Medical Plc, Equity Assurance Plc, Fortis Microfinance Bank Plc, Goldlink Insurance Plc, Great Nigeria Insurance Plc, and Guinea Insurance Plc.

Others are Omatek Ventures Plc, Premier Paints Plc, Resort Savings & Loans, Sovereign Trust Insurance Plc, Union Dicon Salt Plc, Union Homes Savings & Loans Plc, and Universal Insurance Company Plc.

http://www.businesspost.ng/2017/07/06/nse-suspends-trading-shares-17-firms/

Re: NSE Suspends Trading In Shares Of 17 Firms by NwaNimo1(m): 7:05am On Jul 07, 2017
Buhari should also be suspended for failing to disclose his sicknesses.....

7 Likes 1 Share

Re: NSE Suspends Trading In Shares Of 17 Firms by Oladelson(m): 7:07am On Jul 07, 2017
is okay
Re: NSE Suspends Trading In Shares Of 17 Firms by bigcil2(m): 7:08am On Jul 07, 2017
Evans

2 Likes

Re: NSE Suspends Trading In Shares Of 17 Firms by Phemoo10(m): 7:09am On Jul 07, 2017
Good for them. All laws must be strictly adhered to. But why are the companies majorly Insurance firms?

1 Like

Re: NSE Suspends Trading In Shares Of 17 Firms by opendo21(m): 7:11am On Jul 07, 2017
7 Insurance companies affected... There is an urgent need to revamp this sector

3 Likes

Re: NSE Suspends Trading In Shares Of 17 Firms by Marvidris(f): 7:12am On Jul 07, 2017
Hmm
Re: NSE Suspends Trading In Shares Of 17 Firms by Nobody: 7:17am On Jul 07, 2017
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Re: NSE Suspends Trading In Shares Of 17 Firms by Itztotea(m): 7:17am On Jul 07, 2017
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Re: NSE Suspends Trading In Shares Of 17 Firms by SalamRushdie: 7:18am On Jul 07, 2017
Business has been really slow in a lot of sectors so I guess these companies were concentrating on even surviving so much they forgot to file returns in a stock market that couldn't even do much for them

1 Like

Re: NSE Suspends Trading In Shares Of 17 Firms by ngeneukwuewuGOAT: 7:19am On Jul 07, 2017
bigcil2:
Evans
wetin he do again sad

1 Like

Re: NSE Suspends Trading In Shares Of 17 Firms by jericco1(m): 7:20am On Jul 07, 2017
Iminent increase in goods
Re: NSE Suspends Trading In Shares Of 17 Firms by rayornb(m): 7:23am On Jul 07, 2017
So because Police don arrest Evans, NSE come see it deem fit to Suspend Evans Medical, Life is indeed cruel. grin smiley
Re: NSE Suspends Trading In Shares Of 17 Firms by Omexonomy: 7:25am On Jul 07, 2017
Re: NSE Suspends Trading In Shares Of 17 Firms by MrMcJay(m): 7:27am On Jul 07, 2017
And these companies have compliance officers and company secretaries?
Re: NSE Suspends Trading In Shares Of 17 Firms by Nobody: 7:27am On Jul 07, 2017
better to play betting than to invest in NSE

1 Like

Re: NSE Suspends Trading In Shares Of 17 Firms by free2ryhme: 7:28am On Jul 07, 2017
NwaNimo1:
Buhari should also be suspended for failing to disclose his sicknesses.....


The sense wey you no get dey pain me
Re: NSE Suspends Trading In Shares Of 17 Firms by oluseyiforjesus(m): 7:28am On Jul 07, 2017
APC failed us ooo
Re: NSE Suspends Trading In Shares Of 17 Firms by free2ryhme: 7:29am On Jul 07, 2017
opendo21:
7 Insurance companies affected... There is an urgent need to revamp this sector

They have been used to submitting late.

But this time NSE means business
Re: NSE Suspends Trading In Shares Of 17 Firms by LoveJesus87(m): 7:30am On Jul 07, 2017
D
Re: NSE Suspends Trading In Shares Of 17 Firms by jazinogold(m): 7:48am On Jul 07, 2017
angry
Re: NSE Suspends Trading In Shares Of 17 Firms by Raymondreigns(m): 7:52am On Jul 07, 2017
lallalla land
Re: NSE Suspends Trading In Shares Of 17 Firms by SaintUlot: 7:53am On Jul 07, 2017
Check out this thread, you have a lot to benefit from it
https://www.nairaland.com/3905725/say-no-online-scam-swift
Re: NSE Suspends Trading In Shares Of 17 Firms by michoim(m): 8:06am On Jul 07, 2017
NwaNimo1:
Buhari should also be suspended for failing to disclose his sicknesses.....

Borrow sense small, now.
Re: NSE Suspends Trading In Shares Of 17 Firms by ItsawrapOutfit: 8:19am On Jul 07, 2017
Majority are insurers, any hope for this industry? There inability to pay claims upon request is delaying mortgaging their going concern obligation
Re: NSE Suspends Trading In Shares Of 17 Firms by yinka2011: 9:37am On Jul 07, 2017
good move by NSE.


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they also have a stock trials competition where you can simulate the stock market and play with fake money to learn how the NSE really works.


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Re: NSE Suspends Trading In Shares Of 17 Firms by Dollabiz: 9:51am On Jul 07, 2017
Ha
Re: NSE Suspends Trading In Shares Of 17 Firms by dotun365: 10:10am On Jul 07, 2017
SalamRushdie:
Business has been really slow in a lot of sectors so I guess these companies were concentrating on even surviving so much they forgot to file returns in a stock market that couldn't even do much for them
Hello, Please I would like to understand what you mean by 'stock market that couldn't even do much for them'. Thanks...
Re: NSE Suspends Trading In Shares Of 17 Firms by spafu(m): 10:50am On Jul 07, 2017
free2ryhme:



The sense wey you no get dey pain me
Your Zombie sense name him put this country where we dey so.
Re: NSE Suspends Trading In Shares Of 17 Firms by MKO4ever(m): 11:24am On Jul 07, 2017
bigcil2:
Evans

So this guy get company too!!!

(1) (2) (Reply)

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