₦airaland Forum

Mkt Operators raise alarm on declaration of dividend, but non-audited results by coys

Peter OBIORA
Proshare NI
July 01, 2009 16:09 GMT


Capital Market Operators has raised an alarm on only the declaration of dividends and bonuses but not audited results by some quoted companies on the Floor of the Nigerian Stock Exchange (NSE).

One of the Market Operator who is a Stockbroker with one of the popular Stockbroking firms’ name (withheld) confirmed to Proshare NI today in Lagos Nigeria that the issue of the NSE allowing companies to release only their dividends and bonuses without their full results calls for corporate action.

“I do not understand the reason companies would release only their proposed dividends and bonuses to the Exchange without making available their full audited results” the Stockbroker said.

He also affirmed that this calls for corporate action on the part of the Stock Exchange.

The Stockbroker asserts that it is when the Audited results are made available that investors would be able to make their investments decisions.

He cited the examples with Trans-Nationwide Express Plc (Tranex) which released its proposed dividend to investors today Wednesday July 01 2009 on the Floor of the NSE and Regency Alliance Insurance Company Plc (Regalins) that also released its proposed dividend payout and bonus to investors of the company also today on the Floor of the Exchange; without their full audited results.

This is coming on the heels of earlier reports by Proshare NI that Twenty five (25%) of listed companies on the Floor of the Stock Exchange have been reported to be non-complaint in the declaration of its Annual Reports and Accounts.

This number in the schedule of quoted firms and compliance with submission of Annual Reports to the Stock Exchange was reported by Proshare Analyst Services Unit.

The report confirmed that one of the companies that declared its dividend today on the Stock exchange Regency Alliance Insurance has not declared their results for the past one (1) year.

As earlier reported, Sola Oni, Assistant General Manager (AGM) Market Operations/Information Technology had in a telephone chat with Proshare NI affirmed that the Management of the Stock Exchange are doing everything possible to ensure that quoted companies declare their results as at when due.

He also affirmed that the schedule of quoted firms reported by Proshare that are yet to comply with post listing requirements of declaring results prompt and regularly may include list of delisted companies.

However, as at the time of filling in this report, Proshare NI is yet to clarify the issue with the authorities of the Stock Exchange.

http://www.proshareng.com/news/singlenews.php?id=6987

It baffles me o. Imagine that. This is indeed abracadabra investments.

So, who shall deliver us from the monstrous darkness?

b-574

I will Just play the role of king kong jejely. Wetin concern me.



You have become a leper.

Catch All Tender Chicks Here


CROWD

CAPITAL NO!!!

Money is VERY ESSENTIAL in a man's life but definately NOT evreything. If money is everything, why are the very rich not living forever?

Tra la la la . Helloooooooooooooooo. Is any one in the house?

"We all have ability. The difference is how we use it."

Stevie Wonder
(1950 - )
Singer and musician

_{2 u too}.

True talk jare.

Come Romade And Collect Knock _{on your head for indiscipline} .


BRUTE

Chei! Hear dem snoring zzzzzzzzzzzzzzzzzzzzzzzzzzzz.

Mungu yaro BYL

A:558

Habaaaaaaaa. From 548? Which calculator you use?
You are A- 550 o o o.

a 560

Hmmm. Na lie o. Poster above you made a mistake.
You are A- 552, you hear?

@post

B - 550

Her user ID amazes me. Why should a lady be calling herself OX OX OX _{animal farm}

kleptomaniac

Yeeee paaaaaaaaaaaaaaaaaaaa!

Imagine the head of a church masterminding the killing of an innocent girl. .
Lord have mercy on Nigeria!

Thanks man. Just got it now.

"Grammar no be success" o, but good leadership na him be success.

All have sinned and fall short of the moral courage to preach against corruption. All now do a little to the left and a little to the right in many aspects of corruption.

thief!

Na wetin him thief naa?

"Hiss at kiss and moved on"

Curiosity killed the rat passenger abi?

Katakata BYL. _{Abeg oooooo}

What is good about dis morning?

And so what?

_{My Team B ppl make una come o. De game don start again.}

B - 536

999,193