On Monday June 2014, the Nigerian Stock Exchange (NSE) served a notice to 21 companies planning to de-list them from the stock exchange. The reason given for de-listing is because they contravened the listing requirements of the NSE by failing to file quarterly and annual financial statements for up to two years in some cases. Despite shareholders lament over this course of action, I believe NSE did the right thing. More
The Nigerian Stock Exchange (NSE) has decided to delist 20 companies for non-compliance with listing requirements. While 15 of the companies are being delisted for failure to file their quarterly and annual financial statements, five others are being delisted for failure to regularise their listing status after being given time to do so.
Those being delisted for failure to file their financial statements include: Investment and Allied Insurance Plc; Goldlink Insurance Plc; Pinnacle Point Group; Adswitch Plc; Afroil Plc,…. Continue Reading