By Peter Egwuatu
In their bid to meet the deadline for the release of the 2019 financial results, which is a post listing requirements of the Nigerian Stock Exchange, NSE, seven companies before the end of weekend notified the Exchange of their close period for the year under consideration.
The seven companies are First Bank Nigeria Holding, FBNH Plc, United Bank of Africa, UBA Plc, Julius Berger Nigeria Plc, Honeywell Flour Mills Plc.
Others include: Nigerian Aviation Handling Company, HAHCO Plc, Vitafoam Nigeria Plc and Consolidated Insurance Plc.
The NSE in a notice to public companies stated: “The SEC’s communication required public companies to elect one of two options: to file Fourth Quarter, Unaudited Financial Statement, UFS within thirty (30) days after the quarter end and Annual Financial Statement, AFS within ninety (90) days after the year end or not to file Fourth Quarter UFS but to file the Annual AFS within sixty (60) days after the year end.
“ In view of the above, companies listed on the Nigerian Stock Exchange are required to notify the Exchange on or before Friday, 17 January 2020 of their preferred option to enable the Exchange monitor compliance with the SEC’s directive effectively.”
Early filers, according to the NSE are companies that file their interim financial statements at least two weeks before the due date, and Audited financial statements at least four weeks before the due date.
Meanwhile, the notice sent to the NSE from FBN Holding reads: “This is to inform the public and our stakeholders that the Board of FBNH will be meeting on Wednesday January 30 to consider the unaudited financial statements for the year ended December 31, 2019 on Thursday, January 30, 2020. Consequently, there will be a closed period from Wednesday, January 15, 2020.”
For UBA the notice states: “ In compliance with the post listing requirements of the NSE for quoted companies UBA hereby declares the commencement of the closed period for trading in the bank’s shares from January 12, 2020, in respect of the Reports and Financial Statements for the period ended December 31, 2019 as well as the final dividend.”
For Julius Berger it states: “The Board Audit Committee of Julius Berger Nigeria would meet Thursday January 23, 2019 to consider the results for the fourth quarter ended December 31, 2019. In the light of this, January 27, 2020 has been declared a closed period.”
Honeywell Flour Mills states: “Notice is hereby given that the Company’s Q3 2018/2020 financial results will be duly considered and approved by the Board, and will subsequently be filled with the Exchange on the 30th of January 2020.”
The notice by NAHCO reads: “In compliance with the listing rules, the Company has declared a closed period from 16th January, 2020 until 24 hours after the 2019 fourth unaudited financial statement is released to the market.”
Vitafoam notice states: In compliance with the NSE Rule Book and the amendments to the Listing Rules, Vitafoam Nigeria hereby announces the commencement of the closed period for trading in the shares of the company.”
And for Consolidated Insurance, the notice reads: “ The Board of Directors of Consolidated Hallmark Insurance are scheduled to meet in Lagos on Wednesday, January 29, 2020 by 11 am to consider the Company’s Fourth Quarter Financial Statements for the period ended December 2019.